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FFG2 Sees Some Early Asia Buying after Tuesday’s Sell Off


Light buying comes into FFG2 in early Asia-Pac trade, after the previously outlined Thursday sell off, with paper paying 99.8700/8725 on ~5.0K across several clips thus far, market left 99.8725/99.8750. A quick reminder that the contract started to price in chances of an inter-meeting Fed hike on Thursday, operating on record volume for the first FF contract (going back to 1990). The contract has pulled back from the lows printed on Thursday (99.845). The current effective Fed Funds rate (as of Wednesday) stands at 8bp.

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