- Have not looked at the short end of rates markets for a long time now. Charts of short end futures (Dec11) for USD, EUR, GBP + AUD here.
- Good bear case to be made for the last 3 charts. In this day and age of globalization and highly correlated markets, should the EDZ1 chart look substantially different from the other 3? I think not.
- Perhaps trade here is to sell EDZ1 and buy basket of the others. Or in cash forward terms, buy/sell USD. Or simply sell outright EDZ1 on basis of catch up.
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