a thing. We got that, again, a 40-some basis point move in a lot of these near-term contracts last Friday, March 10th, which was the day that the Silicon Valley news, or the SBB news came out, which kind of made sense because this was a sort of a confirmation, things were going bad, conditions were accelerating. And so, yeah, that was, that made sense. This was a severe outbreak, something that was expected. But it was the trading on Monday that really shook me up and shook, I think, shook up everybody else was, you know, a 40 basis point is an extreme move on Monday in Eurodollar Futures in a couple of particular contracts, a couple of key contracts like September 23 and December 23. We got more than 100 basis point moves, massive swings in the market. We've never seen any, I mean, it's double the day Lehman Brothers failed, which should give you a sense that the markets were in outright panic mode. Because what are Eurodollar Futures? Eurodollar Futures are essentially a hedging (10/57)
You are viewing a single comment's thread from: