An April inflation reading on Wednesday that was more benign than expected disrupted the modest momentum that had been building for an 11th straight U.S. interest rate hike in June. Futures tied to the Federal Reserve's policy rate rose after the Labor Department report, and now reflect less than a 10% chance that the U.S. central bank will raise its benchmark overnight interest rate from the current 5.00%-5.25% range at the June 13-14 meeting, with the bulk of bets on a pause. Traders earlier on Wednesday had priced in as much as a 25% chance of a rate hike next month. The Consumer Price Index (CPI) rose 4.9% last ... (full story)