Weekly Update: Relative sedate...>

US EURODLR FUTURES: Weekly Update: Relative sedate action in return from

extended holiday weekend.

- Myriad speakers from the Federal Reserve in addition to dual testimonies on

the Hill by Fed Chairman Powell broke little ground and failed to move the

needle one way or another for markets on week. Despite the historic start of

impeachment testimonies of Pre Trump by the House this week, markets remained

more sensitive to anything US/China trade related, verifiably substantive or

not.

- Eurodollar futures drifted higher across the strip this week, pervasive

risk-off support in Tsys as well helped reverse much of the prior week's move

despite equity markets making new all-time highs (currently ESZ9 3115.0 late

Friday). Short end rates remained anchored, however, while rate cut expectations

for year end remain in low single digits on the week.

- For the week: lead EDZ9 futures held largely steady around 98.085-.09, EDH0

through EDU0 gained 0.030-0.075; Reds (EDZ0-EDU1) -0.095-0.125 higher, while

Greens through Golds (EDZ1-EDU4) gained 0.125-0.135.