(Reuters): Traders on Friday raised bets that the US Federal Reserve will hike interest rates before the end of the year after a U.S. government report showed employers added far more jobs than expected last month.

Implied yields on contracts tied to the Fed policy rate rose, pointing to a nearly 50 per cent chance the Fed will lift the benchmark short-term borrowing rate to the 5.50 per cent – 5.75 per cent range at its December meeting. Before the jobs report, traders has given a quarter-point rate hike then about a 34 per cent chance.