Traders boost US rate-hike bets on hawkish Fed

US rate-hike bets surged after new Fed Chair Kevin Warsh adopted a hawkish tone at his first meeting, with swaps now pricing in 25 basis points of hikes versus 8 bps earlier in the week. Higher yields followed, with analysts noting it would take little to tip the balance toward a hike, pressuring risk assets globally including emerging markets. Brent crude steadied above $80 a barrel after climbing around 4% from a three-month low, while oil sentiment was also shaped by a reported Israel-Hezbollah ceasefire starting Friday.