US rates futures hold losses after advance trade data

NEW YORK: US interest rates futures held at lower levels on Wednesday as data showed advance goods trade deficit shrank in May from April, signaling a possibly stronger reading on the US gross domestic product in the second quarter.

Federal funds futures implied traders expected about a 54 percent chance that the US central bank would raise key overnight borrowing costs by a quarter point to 1.25-1.50 percent by year-end, little changed from late on Tuesday, according to CME Group's FedWatch program.