Month averages. 1 month Non Financial Commercial Paper, 0.10, 2 Month 0.14, 3 Month 0.18, Commercial Paper Financial 1 Month 0.13, 2 Month 0.20, 3 Month 0.26. Eurodollars no change 1 – 3 Month. Yields 30 day = 0.03, 3 Month = 0.07, 6 Month = 0.22, 1 y= 0.36. Average 0.17, Median 0.18. range 0.32. A Peak is here. Average, Median Range = 0.0017, 0.0018, 0.0032. Average trading Range = 1.9 times Average, and 1.8 times Median.
Weekly. Average 0.1944, Median 0.22, Peak above halfway point, Range 0.32. Average, Median, Range = 0.0019, 0.0022, 0.0032.
Yield Curve Monthly. Average 1.22, Median 1.03, Range 2.82, Peak below Halfway point. Average, Median, Range = 0.0122, 0.0103, 0.0282. Monthly yields trading V Ranges, 2.3 times average and 2.7 – 2.8 times Median.
Weekly Yield Curve Average 1.2527, Median 1.05, Range 2.94, Peak above halfway point.Average, Median, Range = 0.0125, 0.0105, 0.0294. Weekly Yields trading V ranges = 2.3 times average and 2.8 times Median.
USD Interest rate ranges trade below EURO Interest rate ranges at 2.0 – 2.6 times. Not an ounce of excitement exists in USD to raise, trading and Ranges. EUR/USD and EUR pairs remains the trade to gain most pips per trade. GBP as a hybrid currency will see limited ranges and movements. EUR is pure and will see good volatility. USD both as a currency, interest rate hike, fundamentals remains truly a heart breaker. If Yellen and the Fed Board keynesians raises, its a complete surprise. This time Big Sis Yellen has plenty of excuses to make her look almost credible. The full Keynesian board don’t want to raise. Keynesians are not free market people, they seek full control rather than free markets. Its why I saw in past statements they are literally scared to raise.
I add how insulting and embarrassing are commentators. They speak without doing homework. Siegal on CNBC adds new Dot Plots come out Thursday. Those Dot Plots are called Central Tendency by the Fed. They are merely 5 year averages of Fed Funds Effective. We remain far far ahead of the curve, commentators, market developments and market prices.
Brian Twomey, Inside the Currency Market, btwomey.com