US rates futures add gains after retail sales data

NEW YORK: Short-term US interest rates futures extended their earlier rise early Wednesday as a smaller-than-forecast rise in retail sales in November reduced bets the Federal Reserve would ratchet up its pace on raising interest rates.

Federal funds futures implied traders saw about a 14 percent probability the US central bank would raise its target range on short-term interest rates to at least 1.00 percent to 1.25 percent at its June 2017 policy meeting.

This compared with a 16 percent chance late on Tuesday, according to CME Group's FedWatch program.