Euro$ interest rate futures are mildly firmer
Euro$ interest rate futures are mildly firmer as yields continue to cool off from post-payrolls knee-jerk highs, with a quiet start to the week before a flurry of Fedspeak this afternoon. The stock market rally had cooled off overnight, but even shallow dips have brought out buyers during the extended rally. The March 2018 contract is a half-tick higher near 98.195 (1.805% implied 3-month yield), with the deferreds 0.5-1.5 ticks higher out the curve. After breaking as low as 98.18 last week, the key psych 98.00 (2.0%) level remains in focus. This followed some large block trades at the tail end of last week, including a 100k Dec-2018/Dec-2019/Dec-2020 butterfly. Bostic, Williams and Rosengren are on tap to speak this afternoon; that's a dove, moderate and hawk respectively.