CME data showed traders were evenly split between bets on a 50 basis point and a 25 basis point rate cut in the past few hours

As the Fed's rate decision approaches, the outcome appears more uncertain. In the past few hours, traders have made more balanced bets between a 50 basis point rate cut (currently with a probability of about 55%) and a 25 basis point rate cut (with a probability of 45%), according to CME Group. Earlier on Wednesday, a 50 basis point rate cut was still favored with a 2:1 probability advantage, but the more conservative option of a 25 basis point rate cut gained more support due to strong economic data. As the probability of a large rate cut decreases, U.S. Treasury yields are rising. The yield on the two-year Treasury note is currently at 3.657%, compared with 3.59% at the close on Tuesday. (Jinshi)