October 14, 2016 / 5:46 PM / in a year

MONEY MARKETS-U.S. rates futures hold gains after Yellen's remarks

NEW YORK, Oct 14 (Reuters) - Most U.S. short-term interest rates futures clung to their earlier gains on Friday following remarks from Federal Reserve Janet Yellen who said reversing long-term damage from the credit crisis would require more accommodative policy.

Federal funds futures for December delivery were up 0.5 basis point at 99.505, which was their session high. This suggested traders saw about a 69 percent chance the Fed would raise short-term interest rates at its Dec. 13-14 policy meeting, CME Group’s FedWatch program showed. (Reporting by Richard Leong; Editing by Chris Reese)

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