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U.S. rates futures hold gains after Fed Fischer's remarks

Reuters 2017-04-21 21:41:24

NEW YORK U.S. interest rates futures held their earlier gains on Friday after Federal Reserve Vice Chair Stanley Fischer told CNBC television two more rate increases remain appropriate for the U.S. central bank despite some recent disappointing data.

Federal funds futures implied traders saw a 53 percent chance for the Fed to next hike interest rates at its June 13-14 policy meeting FFM7 following its quarter-point increase in March. They suggested traders priced in a 38 percent probability for another rate hike at its Dec. 12-13 meeting FFZ7, according to CME Group's FedWatch program.

(Reporting by Richard Leong)