September 6, 2007 / 12:52 PM / 10 years ago

US RATE FUTURES-Slip after jobless claims fall

LAS CRUCES, New Mexico, Sept 6 (Reuters) - U.S. short-term interest rate futures slipped on Thursday after weekly jobless claims fell much more than expected.

The futures move trimmed the implied chances of a half-percentage-point cut to the Federal Reserve’s benchmark lending rate in September FFV7 to 60 percent from 72 percent late on Wednesday. A 25-basis-point cut to the fed funds rate is still fully priced.

Initial jobless claims fell to 318,000 in the latest week after rising for five straight weeks.

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