Eurodollar Future – Dec 2008 |
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Comment: When one-month US TBills yield a meagre 10 basis points (annualised), and one-year ones 1.94%, some have been tempted to buy the long bond which currently yields 4.37%. Record volume last week in this futures contract underlines the stresses building ahead of year-end. USD Libor rates posted by the BBA are indicative only, and interbank money cannot be had at those prices for love nor money. Three-month Libor close to 3.00% by March is wishful thinking. Calendar spreads should invert
Filed under: Technical
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