Meanwhile the Eurodollar futures curve also advanced sending implied yields lower by 10-ticks at deferred maturities.
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Eurodollar futures and options trading also picked up, bolstering average daily volume for the company.
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The yield on the benchmark stands at 3.58%, while implied yields on Eurodollar futures eased by one pip.
Eurodollar futures expiring beyond June 2013 surged with implied yields slumping by 18 basis points as the yield curve flattened.
At stake are trades in eurodollar futures--bets on short-term interest rates affecting American dollar deposits outside the U.S.--accounting for 53% of the Merc's overall volume.
It recently formed an alliance to allow users to trade Eurodollar futures on the Chicago Mercantile Exchange, as well as swaps, through the Blackbird platform.
In the end the board won its right, and Eurodollar futures migrated quickly online. (Today 92% of that trading is electronic.) "I can't regret what I did, " says Duffy.
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.
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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Eurodollar futures are higher having traded with losses earlier.
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Amid the anxiety of what might come next from the Fed, the yield curve continues its steepening bias with nearby Eurodollar futures making slim gains while deferred contracts are firmly lower midweek.
Eurodollar futures and options, where investors hedged or speculated on the interest rate paid on a 90-day deposit of a dollar overseas, were half of the Merc's business, with 1.5 million contracts traded per day.
The Eurodollar curve flattened as dealers sold front month futures and bought deferred maturities on account of growing liquidity fears over in Europe.
Implied yields declined by increasing amounts along the Eurodollar curve while the September treasury-note futures contract was lower by 12-ticks following his remarks and partially in response to a calmer session for European government bonds.
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