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

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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