The eurodollar futures market , which tracks short-term U.S. interest rate expectations over the next few years, is betting on a roughly 80% chance of a rate increase from the Federal Reserve by December 2022, after the release of stronger-than-expected inflation data. Eurodollar futures contracts expiring by December 2022 showed an implied yield of 43 basis points in the afternoon session, equivalent to an 80% chance of a hike, analysts said. Meanwhile, eurodollar futures contracts between March to June 2023 showed a 100% chance of a 25 basis-point hike by the Federal Reserve.
