June 15.

Moody’s downgraded Greece to junk, which halted a rise in both stocks and treasury yields.  Net change in eurodollars was 0 to down 3, after being down 6 in deferred contracts early. Every time yields appear set to rise and risk assets regain solid footing, it seems as if some piece of news comes out that reminds the market of global risks, however those reminders are also having less of an impact.

–Implied vol ened lower on the day as the bid prior to the weekend subsided.  Mostly strangle selling.

–Bullard says US recovery unlikely to be derailed by european woes.

Posted on June 27, 2010 at 1:02 pm by alexmanzara · Permalink
In: Eurodollar Options

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