Euro$ interest rate futures received a jolt higher
Euro$ interest rate futures received a jolt higher following the N. Korea fracas, which escalated overnight, though it seems unlikely to come to blows in Guam or elsewhere for now. Stocks have bubbled back up from lows and the VIX has cooled off from highs. The September 2017 contract is a half-tick firmer near 98.675 (1.325% implied 3-month yield), but the deferreds range from 2.0-6.5 ticks higher out the curve. Up next is 10-year supply for the next cues on the short-dated rate contracts. After that, NY Fed's Dudley will take part in a Q&A session Thursday, but its on the New York economic trends and may not stray into the U.S. economy or policy.