July 26, 2019 / 1:33 PM / a month ago

MONEY MARKETS-U.S. Q2 GDP data support bets on 25-bps rate cut

NEW YORK, July 26 (Reuters) - U.S. interest rates futures fell on Friday, erasing earlier gains, as data showed the U.S. economy slowed less than expected in the second quarter, supporting bets the Federal Reserve would cut interest rates by only a quarter point next week.

At 9:08 a.m. (1319 GMT), federal funds futures implied traders saw about an 81% chance the U.S. central bank would embark on a quarter-point rate decrease to 2.00%-2.25% at its July 20-31 policy meeting. This was higher than the 77% probability seen shortly before the release of the advance gross domestic product data for the second quarter. (Reporting by Richard Leong; editing by Jonathan Oatis)

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