Jan 8, 2018. Interesting articles

–Friday’s NFP of just 148k swung in the opposite direction (relative to expectations) of ADP’s explosive 250k print.  An initial rally in fixed income was quickly snuffed, and rates closed higher on the day, with tens +2.5 bps to 247.4.  Trade of the day was a sale of 125k or more EDZ8/EDZ9/EDZ0 butterflies down to 14.5.  (settled 14.5, -2 on the day, with EDZ8/9 at 20.0 and EDZ9/0 at 5.5).  In spite of this trade, near one-year calendars settled at new highs.  EDH18/EDH19 closed at 47.5 (+1.5) and FFF8/FFF9 at 57.25.

–A few interesting news snippets today.  Bloomberg has an article about government shutdown:


The WSJ features a chart of the ten year inflation indexed note vs treasury as a sign that inflation is perking up (I marked the spread at a new recent high of 203 bps on Friday).

–These last two aren’t exactly market related, but the Wired story is WELL worth a read.

Washington Post has a piece on facial recognition in China, which has benefits, but also allows for complete surveillance


Wired has a fascinating piece as well, regarding consumer acceptance of paying by phone and generating social ranking ‘scores’ (thanks RHB).  This piece also highlights the role of technology in terms of population control and surveillance, by simply harnessing human behavior.


Posted on January 8, 2018 at 5:25 am by alexmanzara · Permalink
In: Eurodollar Options

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