Euribor futures advanced by 16 basis points while the two-year yield sank by 12 basis points to 1.78%.
Bill futures swooned by 11 basis points in response to the rapidly changing credit climate on Tuesday while benchmark government bond prices fell sending cash yields higher by three pips to 2.51%.
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Because grain could be standardized, its values could be abstracted to finance, forming the basis of the futures market which fairly quickly outgrew the value of the physical markets.
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Eurodollar futures have slipped by around four basis points as traders are primed with practically all they need to know ahead of the release of April minutes this afternoon.
Federal funds futures were indicating expectations for a 75 basis point cut from the Fed March 18.
Since then, futures prices have been predicting a 50 basis-point cut in short-term interest rates by April.
Coming off a huge upwards move on Tuesday, short sterling futures have given back around 10-basis points along the strip.
Contracts expiring beyond one-year forward saw implied yields rise by seven basis points while government bond futures expiring in September fell by one-half point to trade at 125.81 carrying a yield of 2.94% as its yield crossed back above those available on comparable treasuries.
Technically, gold futures bulls faded badly on a near-term basis Friday as prices hit a fresh seven-week low, to re-establish a four-week-old downtrend on the daily bar chart.
Technically, gold futures bulls faded very badly on a near-term basis Friday as prices hit a fresh two-month low and closed at a bearish weekly low close, to also re-establish a four-week-old downtrend on the daily bar chart.
Technically, gold futures bulls have faded badly on a near-term basis as prices hit a fresh two-month low overnight and on Friday closed at a bearish weekly low close, to also re-establish a four-week-old downtrend on the daily bar chart.
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Eurodollar futures expiring beyond June 2013 surged with implied yields slumping by 18 basis points as the yield curve flattened.
Technically, December gold futures bulls maintain the solid overall technical advantage, amid higher volatility on a daily basis.
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George Gero, vice president and precious-metals strategist with RBC Capital Markets Global Futures, is among those traders who monitor the open-interest data on a daily basis for clues on the type of buying or selling that is occurring.
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Yet, even after the central banks' announcement, dealers cited by TradeTheNews.com said that some interest rate spreads were still high, with the TED spread (which is price difference between three-month futures contracts for U.S. Treasuries and three-month contracts for Eurodollars) still above 30 basis points.
Technically, gold futures bulls have faded this week, but trading has also been choppy on a day-to-day basis.
Gilt futures also pared recent gains with the September future losing 28-ticks to 128.67 adding just four basis points to the yield of 2.51%.
Eurodollar futures plunged at the sight of another strong posting and within minutes reflected a surge in implied yields of 17 basis points with the curve steepening at further maturities.
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And dealers were cited by TradeTheNews.com as saying that the Ted spead, which measures the difference between three-month futures contracts for U.S. Treasuries and three-month contracts for Eurodollars, had widened to 313 basis points, from 11 basis points on Wednesday.
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