What's Up With Eurodollar Futures?
CNBC's Rick Santelli just reported that 100,000 Eurodollar front March futures contracts were sold this morning.
That is the largest trade that he can remember in his 31 years in the pits. (The contracts represent the 3-month rate that converges to Libor.)
Santelli reports this is something to pay attention to especially since it coincides with heightened borrowing by banks from the European Central Bank in the last two days, which some traders say is a potential sign of funding issues.
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