Eurodollar Futures Weekly Update:......>

STIR FUTURES: Eurodollar Futures Weekly Update: Upheaval in the short end this

week with the lead quarterly Dec'19 futures (EDZ9 took lead after EUD9 expired)

climbing sharply (+0.065) going into the second rate cut in as many Fed policy

anncs' Wed, only to trade 0.015 lower by the close.

- The Fed's "Hawkish" cut saw front end rates and equities sell-off late while

the Fed chair gave no quarter to all those suggesting asset purchases would be

anncd, though as he suggested, we'll probably figure out over the next 6 weeks

whether they should have gone further in taking action on the funding situation.

- The NY Fed announced the first of may GC repo repurchase operations on Tue,

looking to quell short term funding concerns while extending ops through October

10. 

- Mkt back to trying to discover if/when Fed cuts next w/probability of third

cut at Oct 30 FOMC rising to 60% after latest move.

-For the week: the lead EDZ9 futures gained 0.025 to 98.25, while EDH0 through

EDU0 gained 0.035-0.060; Reds (EDZ0-EDU1) were +0.085-0.095, while Greens

(EDZ1-EDU2) through Golds (EDZ3-EDU4) are 0.100-0.120 higher.