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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Brandon who wrote (2589)	9/19/2000 11:02:31 AM
From: scottbihl	Read Replies (2) of 3536

The eurodollar futures are beginning to anticipate that the next move by the Federal Reserve will be to lower interest rates. The Dec contract traded as high this morning as 93.33, whereas the September contract settled yesterday at 93.34. Given that there is usually a year-end effect in the Dec contract of 4-6 basis points, this implies that the market is pricing the December interest rate at 3-4 basis points below the current rate. Seems like the market has decided that inflation is dead. Almost as dead as the Michigan football team's National Title hopes. Did you notice that they lost Henry?

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