Free Trial

Eurodollars Surge Takes A Pause

US EURODLR FUTURES
  • Eurodollars edge back from earlier session highs in the white pack and a little further below in reds and beyond, but are still up as much as 14.5 ticks in EDH3 and double digits through to EDU4.
  • Being particularly sensitive to headlines, the marginal pullback was helped by slightly more hawkish commentary from Bostic (’24 voter) vs earlier: Business leaders see strong demand and still say they have pricing power, 75bp not baseline and seen as a low probability but not taking anything off the table.
  • Peak implied yields in EDM3 are now 6.5bps below post-FOMC levels. Similar slide on the day in near-term FOMC pricing, down to 52bp for Jun and back near earlier lows of 98bps for Jul and 134bp for Sep from FOMC-dated Fed Funds futures.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.