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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: Giordano Bruno who wrote (11851)3/15/2011 4:45:42 PM
From: ggersh1 Recommendation  Read Replies (1) of 119361
 
US GOVTS: Eurodollars - Heavy Front Month Sales; Nikkei Rumors

* Front Eurodollars are now seeing some hefty pressure as short-term
funding fears, which were behind the heavy Eurodollar put spread buying
earlier in the session, are escalating. Traders have been positioning
for possible short-term funding problems in light of Japan's devastating
earthquake and aftermath, by buying EDM 99-62.5/99-50 put spreads in
decent size earlier, but are now seeking more protection by hitting
front Eurodollars.

* And the hit to EDJ1 to EDM1 has pushed up cash Libor funding
expectations for tomorrow in the broker market to 0.3130% from today's
0.3090%.

* Nikkei margin call fears are at the center of the funding jitters
given that market's continued rout. Rumors swirl that the Japanese
market exchange governing bodies may decide to close the Nikkei for a
few days. This is a rumor only and unconfirmed.
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