Euro$ interest rate futures recovered from lows
Euro$ interest rate futures recovered from lows as stocks remain jittery ahead of the weekend following the latest Mueller subpoenas and Senate wrangling on the deficit implications of tax cut measures. News that Goldman is forecasting four Fed hikes in 2018 reportedly added to some bearish put demand in that area of the euro$ curve of late. The December 2017 contract is fractionally lower near 98.46 (1.54% implied 3-month yield, highs since April). But the deferred contracts have rebounded, however, 0.5-2.0 ticks out the curve. Certainly Fedspeak even from the doves appears to be leaning towards more hikes ahead, so its not like the Fed hasn't been signaling that it has some more work to do with recent record highs on stocks, lows on unemployment and hopes that inflation will ultimately toe the line. Fed's Kaplan earlier said he's "actively considering the next step(s) on policy." Note, Yellen is back on the docket in a "Conversation with Mervyn King" Tuesday and JEC testimony on November 29.