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Late SOFR/Eurodollar/Treasury Option Roundup

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Weaker Demand Fears Take Hold As Yields and Dollar Surge

  • Crude oil sees a largely one-way slide with a return of dollar strength and higher Tsy yields seen weighing on activity, driving further by a surprise increase in US inflation expectations.
  • WTI is -3.9% at $85.63 having briefly traded through support at $85.56 (Oct 13 low) to open $84.94 (50% retrace of Sep 26 – Oct 10 rally).
  • Brent is -3.0% at $91.72, coming close to support at $91.08 (Oct 13 low) and then $90.59 (50% of Sep 26-Oct 10 rally).
  • Gold is -1.45% at $1642.30 to continue a poor week with the cranking higher in yields after various inflation surprises. It has cleared the Oct 13 low of $1642.5 on the snap move lower after US CPI, opening the bear trigger at $1615.0 (Sep 28 low).
  • Weekly moves; WTI -7.5%, Brent -6.3%, Gold -3.1%, US Nat Gas -7.6%, TTF Nat Gas -9.1%

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