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Front End Rates Dip

US EURODLR FUTURES
  • Eurodollars have ground higher throughout the day, led by whites and reds up 2-2.5 ticks.
  • This sees shorter-dated contracts break above the range from the past week even if they remain well below pre-Dec FOMC levels as the market contemplates a March hike.
  • The Mar’22 has seen the most volume on a quiet day, up 2 ticks at 99.645 and closing on the 20-day EMA of 99.66.
  • No data tomorrow with attention instead turning to a busy week ahead with Markit PMI/ISM, JOLTS and Payrolls along with the FOMC minutes and Bullard speaking (2022 voter).

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