February 28, 2017 / 1:50 PM / 9 months ago

U.S. rates futures hold gains after GDP data

NEW YORK (Reuters) - U.S. interest rates futures held their earlier gains on Tuesday as the government left its reading on gross domestic product in the fourth quarter unchanged at 1.9 percent, falling short of the 2.1 percent forecast among analysts.

Federal funds futures for March delivery FFH7 were up half a basis point at 99.29. They suggested traders saw about a 35 percent chance the Fed will raise rates by a quarter point at its March 14-15 policy meeting, compared with 31 percent at Monday’s close, CME Group’s FedWatch program showed.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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