NEW YORK—U.S. interest rate futures rose modestly on Friday, as traders still expect the Federal Reserve to raise key borrowing costs at its June 12-13 policy meeting in the wake of weaker-than-forecast growth in domestic payrolls and wages in April.
Nonfarm payrolls increased by 164,000 last month, below the 192,000 gain forecast by analysts in a Reuters poll. Average hourly earnings grew 0.1 percent, less than the 0.2 percent increase expected by economists.
