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Post-Fixing Rally Reverses Most Recent Cheapening

US EURODLR FUTURES
  • Front EDZ2 rises to little changed (95.05, +0.005) after an almost unchanged 3M Libor fixing.
  • A more limited post-fixing rally further along the curve still pushes the rest of the white and red pack back higher on the day (+0.005-0.02), doing little to change recent inversion levels (EDM3/Z3 -0.44 before EDZ3/Z4 -1.25 just off record lows).
  • Double Fedspeak from Williams and Bullard in focus following a light US docket with only the Dallas Fed mfg index after mixed other regional Fed surveys.

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