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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 have rallied sizeably on the day despite a pullback in recent trading, led by the red pack gaining +0.11 as growth fears dominate.
- Yields are seen peaking in EDZ2 at 3.665% (-2.5bps on the day) with ever growing inversion thereafter. EDZ2/EDZ3 now shows -68bps from yesterday’s close of -59.5bps, with largest cuts priced in mid-2023 with EDM3/EDM4 and EDM3/EDU3 both showing 20bp of cuts.
- The continued inversion into 2024 sees yields tough around 2.75% before starting to rise again in mid-2025.
- See charts below for curves relative to after past FOMC meetings and a time series of calendar spreads.
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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