Euro$ interest rate futures are mixed
Euro$ interest rate futures are mixed trading slightly lower on some near-dates and mostly firmer out the curve. Stocks are set to open lower again as risk aversion rears its head again, while Treasury yields are consolidating above lows. The March 2018 contract is a tick higher near 98.03 (1.97% implied 3-month yield), having probed 98.00 (2%) yesterday. Fed hawk Mester said that the Fed tightening path remained on track despite recent market volatility, though her remarks were not out of character. Attention will shift towards inflation stats due over the next two days to see if there's any follow-up hints of wage pressures emerging that could compound losses on the short-dated rate contracts ahead.