June 3, 2019 / 5:59 PM / 3 months ago

MONEY MARKETS-Traders nearly price in a U.S. rate cut by year-end

NEW YORK, June 3 (Reuters) - U.S. interest rates futures on Monday added to early-session gains after St. Louis Federal Reserve President James Bullard said a Fed rate cut may be “warranted soon” due to global trade tensions and sluggish domestic inflation.

At 1:30 p.m. EDT (1730 GMT), federal funds futures implied traders saw nearly 98% the U.S. central bank would lower key lending rates by a quarter percentage point at its December policy meeting, according to CME Group’s FedWatch program. This was higher than the 97% seen before Bullard’s remark and 77% a week earlier. (Reporting by Richard Leong)

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