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Euro$ interest rate futures read between the lines

Euro$ interest rate futures read between the lines of the surge in crude oil prices and strong data rounds that helped cement a December Fed hike and projected tightening into the future. That was largely corroborated with Fedspeak from Dallas Fed moderate Kaplan, though he was coy with the rate curve ahead. Fed's Powell skirted the policy outlook in his speech, but was very hawkish yesterday and hawk Mester is due next. The March 2017 contract is a tick lower near 98.96 (1.04% implied 3-month yield), while the deferreds are as much as 12-ticks lower out the curve.


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