June 18, 2019 / 2:10 PM / 4 months ago

MONEY MARKETS-U.S. rates futures pare gains after Trump says to meet China's Xi

NEW YORK, June 18 (Reuters) - U.S. interest rates futures trimmed their earlier gains on Tuesday after U.S. President Donald Trump said he would meet with his Chinese counterpart Xi Jinping at the G20 summit later this month and that trade talks between the two nations were set to restart ahead of time.

At 9:51 a.m. (1351 GMT), federal funds futures implied traders saw about 23% chance the Federal Reserve would lower key lending rates at its two-day policy meeting that will begin later Tuesday, according to CME Group’s FedWatch program.

The implied likelihood for a possible 25 basis-point rate cut at the upcoming meeting briefly fell to 19% shortly after Trump’s tweets about the restart of the trade talks. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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