June 14, 2019 / 12:59 PM / 3 months ago

MONEY MARKETS-U.S. rate-cut bets in June fall after solid retail sales data

NEW YORK, June 14 (Reuters) - U.S. interest rates futures fell on Friday, erasing their earlier gains, as traders pared their bets the Federal Reserve would lower key lending rates next week following data that showed solid growth in domestic retail sales in May.

At 8:32 a.m. (1232 GMT), federal funds futures implied traders saw a 23% likelihood the U.S. central bank would cut the target range on short-term interest rates by a quarter point to 2.00%-2.25% at its upcoming meeting, down from 31% shortly before the release of the government’s retail sales report in May, CME Group’s FedWatch program showed. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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