U.S. rates futures hold gains after U.S. GDP data

August 26, 2016 9:05 AM EDT

A man in short sleeves carries shopping bags near Herald Square during unseasonably warm weather in the Manhattan borough of New York December 27, 2015. REUTERS/Pearl Gabel/File Photo

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NEW YORK (Reuters) - U.S. interest rates futures clung to earlier gains on Friday as data showed domestic gross product grew 1.1 percent in the second quarter, which is slower than previously thought and supports the view the Federal Reserve would refrain from raising interest rates.

Federal funds futures for December delivery was up 1 basis point at 99.49. This implied traders saw a 54 percent chance the U.S. central bank would raise rates at its Dec. 13-14 policy meeting, down slightly from 52 percent late on Thursday, according to CME Group's FedWatch program.

(Reporting by Richard Leong)

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