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US TSYS

Bull Steepening, Aided By Dovish RBA Surprise

US TSY FUTURES

CORRECT: TUZ2 Blocked

US TSY FUTURES

TUZ2 Blocked

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(Z2) Short-Term Reversal

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(Z2) Corrective Bounce Extends

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Post-LIBOR Settle Update: Higher Set, Futures

US EURODLR FUTURES

Lead quarterly Dec'22 (EDZ2) trading -0.060 at 95.295 after latest 3M LIBOR set' climbs +0.03757 to 3.64143% (+0.07614/wk) - highest level since late October 2008.
Futures blipped off lows briefly following BoE 50bp rate hike annc (in-line w/ expectations though three members voted for 75bp hike), reverses bounce quickly.

  • Meanwhile, balance of Whites through Greens (EDH3-EDU5) -0.090-0.130 -- pricing in more hawkish guidance from the Wed's FOMC Blues (EDZ5-EDU6) -0.060-0.025, Golds (EDZ6-EDU7) steady to +/- 0.020
  • Current inversion pricing: Mar'23/Jun'23 -0.030; EDZ2/EDZ3 at -0.225, EDH3/EDH4 at -0.610. Inversion flattens out with Blue Mar'26/Jun'26 both trading 96.56.
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Lead quarterly Dec'22 (EDZ2) trading -0.060 at 95.295 after latest 3M LIBOR set' climbs +0.03757 to 3.64143% (+0.07614/wk) - highest level since late October 2008.
Futures blipped off lows briefly following BoE 50bp rate hike annc (in-line w/ expectations though three members voted for 75bp hike), reverses bounce quickly.

  • Meanwhile, balance of Whites through Greens (EDH3-EDU5) -0.090-0.130 -- pricing in more hawkish guidance from the Wed's FOMC Blues (EDZ5-EDU6) -0.060-0.025, Golds (EDZ6-EDU7) steady to +/- 0.020
  • Current inversion pricing: Mar'23/Jun'23 -0.030; EDZ2/EDZ3 at -0.225, EDH3/EDH4 at -0.610. Inversion flattens out with Blue Mar'26/Jun'26 both trading 96.56.