Euro$ interest rate futures steadied below highs
Euro$ interest rate futures steadied below highs, but have generally been on the rise since the Fed hike last week, which provided cover for a little on-the-fact bid. The December 2018 contract is a half-tick firmer near 97.345 (2.655% implied 3-month yield), while the deferred contracts are 1.0-3.0 ticks higher out the back. That compares to a range of 97.42-97.315 in place since August. Though the Fed dropped its "accommodative stance" reference, Chairman Powell cautioned that this move didn't have any policy implications. He will be speaking before the NABE conference at 12:45 ET on "The Outlook for Employment and Inflation," a keynote speech that will be closely scrutinized for any updated policy cues.