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Weaker Further Down The Strip

US EURODLR FUTURES

After a record-low LIBOR fix lifted the short end of the strip, record-high Apr CPI sent longer-dated contracts lower. Dec22 fell to session low of 99.545, about 7 bps implied lower vs pre-CPI.

Current White pack (Jun 21-Mar 22):
* Jun 21 +0.005 at 99.835
* Sep 21 +0.005 at 99.825
* Dec 21 steady at 99.775
* Mar 22 -0.005 C 99.790
* Red Pack (Jun 22-Mar 23) --0.05 to --0.015
* Green Pack (Jun 23-Mar 24) --0.085 to --0.065
* Blue Pack (Jun 24-Mar 25) --0.095 to --0.085
* Gold Pack (Jun 25-Mar 26) --0.10 to --0.095

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