Free Trial

Post-LIBOR Settle Update: Late 2023 Implied Rate Cuts Stable

US EURODLR FUTURES
  • Lead quarterly Eurodollar futures are trading -0.055 at 94.725 after the latest 3M LIBOR settlement climbs +0.02986 to a new 16-year high of 5.22257% (+0.09128 total for the week).
  • Eurodollar futures are trading -0.065 weaker through Mar'24, SOFR futures also trading weaker across the strip: the lead SFRM3 quarterly trading -0.035 at 95.09, futures -0.060 through SFRH4.
  • Fed funds implied hike for May'23 is currently at 15.9bp, Jun'23 +13.3bp cumulative at 4.951%, projected rate cuts later in the year holding steady: Sep'23 cumulative -11.1bp to 4.701%, to -40.6 for Dec'23 at 4.412.
  • Fed Terminal currently at 4.965% in May'23.

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.