Saturday, November 17, 2018
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non-synthetic futures and option strategies

eurodollar futures hit session lows after minutes

(14:19 et) eurodollar futures soften to the day's lows as the fomc minutes show the committee discussing tightening strategies at late april's meeting. no timetable for a policy shift was noted, although the fed concludes qe2 purchases at the end of june. december 2012 eurodollars were recently down 8 basis points to the session low of 98.63 while december 2013 was off 10. the nearest 1-year calendar spread a little wider, meaning the market sees short-term rates rising at faster pace. june 2012 contract recently priced in a rate 51bp higher than june 2011's, up from 48 tuesday.

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