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SFRU3/SFRZ3 testing key resistance

US EURODLR FUTURES
  • Again some notable Volume today in SFRU3, but nothing like what was seen yesterday, after the contract saw a huge 964k (largest since 15th March) traded lots, and over half the volume trading during the morning European session.
  • Talking with the CME the volume was totally legit, but the most impressive thing is that SFRU3 traded some 175k in under an hour at one point, with virtually no blocks.
  • Looking at the SFRU3/SFRZ3 spread today, it is again bid, and despite showing just 13.5k traded lots outright, more have likely been done on legs.
  • The spread test this week's high at -7, also the highest print since Sep 2022.

Chart source: MNI/Bloomberg.

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