May 13, 2019 / 1:29 PM / 2 months ago

MONEY MARKETS-Traders see higher chances of Fed rate-cut after China's tariff plan

NEW YORK, May 13 (Reuters) - U.S. interest rates futures rose on Monday as traders raised their bets the Federal Reserve would lower key borrowing costs at year-end following China’s plan to impose higher duties on U.S. goods in retaliation against U.S.’s own tariff move.

At 9:08 a.m. (1308 GMT), federal funds futures implied traders saw about a 70% chance the U.S. central bank would lower the target range on short-term rates by a quarter point to 2.00%-2.25% at its Dec. 10-11 policy meeting. This compared with a 64% implied likelihood late on Friday, according to CME Group’s FedWatch program. (Reporting by Richard Leong)

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