Traders also placed bets on higher interest-rate volatility.
Strong employment data has changed option traders' thinking about the end of rate hikes.
The trader placed a risky fed funds wager 15 minutes before the jobs numbers came out.
Investors are finally looking past the threat of higher policy rates as they set positions.
The swaps market is now pricing the Fed's policy rate to peak at just 4.85% by May.
The Fed has raised rates four times since March.
The Russian invasion in Ukraine has traders believing a quarter-point increase is more likely.
Traders see a quarter-point move as the most likely scenario.
Traders see a greater likelihood that the Fed will start tightening with the first half-percentage-point increase since 2000.
Benchmark yields climbed across the curve, led by the 10-year, rising as much as 11 basis points.
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