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Red Pack Leads Gains Amidst Broader FI Rally

US EURODLR FUTURES
  • Eurodollars have pushed to new session highs, with the front EDH3 also setting new highs for the week before pulling back (currently 94.975, +0.04) helped by the lower Libor fixing and Russia military headlines.
  • Largest gains are seen in the red pack (EDH4 +0.07) with first order risk off impact outweighing a potential second order inflationary impact from a more drawn-out conflict.
  • EDM3/EDZ3 remains rangebound, currently -0.495 having not closed outside of -0.45 to -0.55 since Powell’s Brookings comments on Nov 30.

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