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US$ LIBOR Retirement Reprieve

US EURODLR FUTURES

Eurodollar Reds-Greens reverse losses/trade higher after Fed Board of Govs just announced an extension to key US$ LIBOR benchmarks from December 31, 2021 to June 2023.

  • "The LIBOR transition is a significant event that poses complex challenges for banks and the financial system. The agencies encourage banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable and in any event by December 31, 2021, in order to facilitate an orderly—and safe and sound— LIBOR transition."
Link: https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20201130a1.pdf

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