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.