The bet that the Fed will cut interest rates by 50 basis points next week has risen to 43 per cent from 28 per cent yesterday, according to the CME Fed Watch tool, putting US Treasury yields on course for a weekly decline. This week's CPI and PPI data have supported expectations of a dovish PCE at the end of the month, leading some investors to expect the Fed to be more concerned about jobs. Meanwhile, the Wall Street Journal reported that officials were considering more aggressive monetary easing as they believed inflation was under control and worried about jobs, with the 10-year Treasury trading around 3.657 per cent and the two-year at 3.598 per cent.