November 25, 2022 17:02 GMT
US EURODLR FUTURES
- The front EDZ2 rises to 95.05 (+0.02 on Wed close) whilst the rest of the curve has chipped away at the overnight sell-off in recent hours but remains below the post-FOMC close (EDZ3 -0.02, EDZ4 -0.025).
- The move reflects continued reluctance to price much more than the 50bp hike currently seen as locked in for the Dec 15 decision (53bp priced in Fed Funds futures).
- No major change in inversion from first thing: EDM3/Z3 -0.43, EDZ3/Z4 -1.24 with the latter close to record lows.