MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: US OCT CONSTRUCT SPENDING +0.4%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lower Ahead Of The Fed Tomorrow

US EURODLR FUTURES
  • Eurodollars have edged lower today after a delayed reaction to stronger-than-expected PPI inflation.
  • The move on the day has been largest 1-1.5yrs out, with the Mar’23, Dec’22 and Jun’23 contracts down 3-3.5 ticks. Volumes have been clearly heaviest for the Z2s.
  • At one point they were down 5 ticks post-PPI but there has been a partial retracement on a broader risk-off environment.
  • EDZ2 remains well within the 12-tick range it’s traded in ever since Powell hinted at retiring the word transitory and pushing ahead with accelerating taper.
  • EDZ2 -0.030 at 99.00 (an implied 1.000%), EDZ3 -0.010 at 98.375 (1.625%) and EDZ4 at -0.010 at 98.270 (1.730%).
  • Further out, the EDZ4-EDM6 spread is unchanged on the day and remains slightly inverted at -0.01 (albeit on low volumes), as it has been for the past week or so.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.