SR3Z5 now largest contract by OI in SOFR history. With all eyes (and portfolios) focused on the final three fed meetings of the year, Dec25 #SOFR futures have amassed the largest position of any contract month in SOFR history, eclipsing the Jun23 contract highs observed during

Market is nearly certain of a 25bp cut today. Rallied through weak economic data & reports over the last few weeks in expectation of a Sept. cut. Expecting an apathetic market reaction if 25bps is the verdict.

Powell: "There were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion, far from it." #FedWatch: December rate cut probability falls to 65%.

Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play.

Trump Calls Fed Chair Jerome Powell a “Nincompoop”

IM 3 UNDER 2.5 UNDER IN THE IRON FLY 1X2