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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Hawkmoon who wrote (2640)12/21/2000 10:54:12 AM
From: Robert Douglas  Read Replies (1) of 3536
 
Looks like we had a bit of miscommunication Ron.

I was referring to the Eurodollar, not the Euro currency. For those who don't know, the Eurodollar futures contract is an interest rate future. It moves with short term rates. Presently the June contract is trading about 94.35 which (subtracting from 100) implies a rate of 5.65% on Eurodollar deposits. The 3 month cash Eurodollar is yielding 6.50% so this market is anticipating 85 basis point drop in yield the next 6 months.
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