Federal Reserve

Rate hike odds increase through 2016 after jobs report

March jobless rate 5.0% vs. 4.9% in February

Fed funds futures rose across the board after Friday's jobs report, implying a greater chance the central bank will raise interest rates at least once more this year.

Futures are now pricing the first better-than-average chance of a rate hike in September, according to CME Group data. It had been December prior to the report.

Still, traders only saw a 1-in-5 chance that the Fed would raise rates twice this year, as they forecast at their most recent meeting.

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