The U.S. treasury auctioned several bonds last night and the yield in those auctions indicated that the financial markets are not overly worried about or betting for further sharp hikes from the U.S. Federal Reserve, which has hikes rates thrice since last December.

Treasury auctioned 3-month bills at 102 basis points, which is 2 basis points higher than the previous auction a week ago but 16 basis points lower than in July. The 2-year auction yielded 134.5 basis points, which is 5 basis points lower compared to the previous auction in July. The 5-year auction yielded 174.2 basis points, down 14.2 basis points the previous auction in late July, and down 31.5 basis points from its auction in December.

The Federal funds future is also pointing to a receding hike bets. According to today’s value, the market is pricing just 31.5 percent chance that there will be a 25 basis points hike in December.