In early summer, we took a stab at buying Eurodollars (“MI2 Trader: Buy EDZ3” 23rd June 2022). It was our first long US fixed income trade in over 18 months, so we “started cautiously” because, as we noted, “this is a bet” on a recession. As it turned out, after a sharp little bounce, the equity relief rally undermined the premise, and we scratched the trade. Therefore, given yesterday’s equity euphoria, now might seem an odd time to try and rebuy the front end. But let us explain.
To read more of this exclusive content, please log in below. If you have an account but have not purchased access or signed up for a free trial, click here.