(Reuters) -Exchange operator CME Group ( CME ) reported an increase in first-quarter adjusted profit on Wednesday, helped by record growth in futures and options contracts tied to U.S. Treasuries and higher commodity markets trading activity.

While hopes of a "soft landing", where inflation falls without a recession or big job losses, have firmed up over the past few months, the trajectory of interest rates continues to be uncertain as investors assess the latest economic data.

CME Group's ( CME ) average daily volume (ADV) in its U.S. Treasuries futures and options grew 12% year over year, reaching an all-time high of 7.8 million contracts per day, the company said, adding that ADV in its commodities markets rose 14% to 4.7 million contracts.

Clearing and transaction fees, from which CME makes the most of its revenue, edged up 0.7% to $1.21 billion. Its total revenue rose 3% to $1.49 billion.

On an adjusted basis, CME Group's ( CME ) net income rose to $911.1 million, or $2.50 per share, in the quarter, from $882.3 million, or $2.42 per share, a year earlier.