2min chapter

Forward Guidance cover image

The Powell Put Won't Save Stocks | Joseph Wang

Forward Guidance

CHAPTER

The Euro-Dollar Curve Exiting Inversion

The Euro-dollar futures curve went into inversion at about middle of December, early December. Do you pay, does that mean anything to you? So your dollar futures are spot rates. You can construct a swap rate, which is the equivalent of borrowing three-year term in the Euro-dollar market. Usually that's higher than the three-year treasury, and what we call that as a swap spread.

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