Free Trial
US

Democrats Draw Level On Generic Ballot

PIPELINE

$2.5B Global Payments, $2B Wells Fargo Launch

US OUTLOOK/OPINION

GS With A Consensus CPI Call

SECURITY

US Announces USD$1B Ukraine Arms Package

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Rallying Whilst Maintaining Sizeable Inversion

US EURODLR FUTURES
  • A volatile early session, most recently with a quick rise across the curve, currently sees Eurodollars little changed as red and green packs struggle to unwind much more of Friday’s rally having made some progress in yesterday’s extremely thin trade.
  • Front contracts have firmed (EDU2 unch, EDZ2 +0.03) despite near-term rates being relatively well pinned under expectations of the Fed getting to neutral quickly (Fed Funds pricing +71bps for Jul and a cumulative +125bp for Sep meetings).
  • Red and green packs are now flat from Friday’s close, leaving the curve heavily inverted, with EDZ2/EDH3 -13bps and EDZ2/EDZ3 -73bps, compared to 0bps and -37bps a week ago and highlighting just how quickly growth fears have ramped up.
114 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • A volatile early session, most recently with a quick rise across the curve, currently sees Eurodollars little changed as red and green packs struggle to unwind much more of Friday’s rally having made some progress in yesterday’s extremely thin trade.
  • Front contracts have firmed (EDU2 unch, EDZ2 +0.03) despite near-term rates being relatively well pinned under expectations of the Fed getting to neutral quickly (Fed Funds pricing +71bps for Jul and a cumulative +125bp for Sep meetings).
  • Red and green packs are now flat from Friday’s close, leaving the curve heavily inverted, with EDZ2/EDH3 -13bps and EDZ2/EDZ3 -73bps, compared to 0bps and -37bps a week ago and highlighting just how quickly growth fears have ramped up.