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#### Been a volatile week for....>

US EURODLR FUTURES
US EURODLR FUTURES: #### Been a volatile week for short end trying to price in
chances of more than 25bp rate cut at the September FOMC meeting. While 25bps
remained fully priced in, chances of a 50bp cut at next policy meeting had
fallen to just over 10% this morning from appr 55% a week ago. Today's China
tariff retaliation and recent Twitter threat from Pres Trump that he will
respond to China later today has boosted the short end as 50bp cut chances back
above 50%. Current White pack (Sep 19-Jun 20):
* Sep 19 +0.050 at 97.985 (97.995 high)
* Dec 19 +0.075 at 98.210
* Mar 20 +0.080 at 98.475
* Jun 20 +0.095 at 98.610
* Red Pack (Sep 20-Jun 21) +0.095 to +0.10
* Green Pack (Sep 21-Jun 22) +0.085 to +0.10
* Blue Pack (Sep 22-Jun 23) +0.075 to +0.085
* Gold Pack (Sep 23-Jun 24) +0.065 to +0.075

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