U.S. rate futures trim gains after GDP data

NEW YORK (Reuters) – U.S. interest rate futures pared earlier gains on Tuesday as the government’s revision on third-quarter economic growth was stronger than forecast, supporting the view the Federal Reserve would raise interest rates in December and beyond. U.S. rate futures trim gains
Federal funds futures implied traders saw a 98 percent chance the U.S. central bank would raise short-term interest rates by a quarter point to 0.50-0.75 percent at its Dec. 13-14 meeting, compared with a 94 percent chance late on Monday, according to CME Group’s FedWatch program.

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