- Follow up on yesterday's post on short rates and how the ED futures chart looks different from a few other currencies.
- Initiated a small +EDM1/-EDZ1 spread today on basis of weekly chart breaking +36.5, a previous high = trend change. The equivalent calendar spreads for the other 3 currencies are included here for easy comparison (AUD is flatter than EUR and GBP because RBA has tightened ahead of the rest).
- Will do more if we pull back lower.
- Ruing lack of focus in this. There was a time when this was at +11 where buying would have been almost like a free option.
2 comments:
Increased risk from tiny to a real position now at +39.
Think its better to express a bearish view of US rates in the short end rather than the longer end now given how much the curve has steepened now.
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