UNDERSTANDING THE EPIC MOVES AT THE FRONT-END
The 'tourist tries to convey the magnitude of the volatility in STIRs
There’s something going on in fixed-income land that bond traders are well aware of, but might be getting missed by folks who ply their trade in other areas of the markets. And it’s important, so it deserves its own post.
Have a look at this daily chart of the March 2024 contract of the Eurodollar.