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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US EURODLR FUTURES
- Eurodollars yield increases are led by EDM3-Z3 up 7bps since just prior to the initial ECB rate decision for 4bps higher on the day.
- The bulk of the swing came from the ECB including through the statement but Powell has helped by doing nothing to push back against 75bp market pricing just prior to the FOMC blackout (currently 72bps).
- It does relatively little to change the shape of the curve: yesterday’s development of ED yields peaking in EDZ2-EDH3 (prior just EDH3) still holds, currently 4.165%, with little change on the day for EDZ2/EDZ3 at -0.42 and still a faster pace of cuts seen into 2024 with EDZ3/EDZ4 -0.50.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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