A few early levels
April 7, 2025
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A few updated levels show early panic, now subsiding. These prices are from approx 5:00 am EST.
FFK5 high 9601.0 now 9580.0 +4.5 (If the Fed eases on May 7, then FFK5 goes to 9586.5)
FFF6 high 9707.5 now 9685.0 +16.5 (at the high, sub-3% by year end)
SFRM5 high 9657.0 now 9618.5 +12.0 (current EFFR is 4.33 or 9567. At the high there was nearly 100 bp ease priced).
SFRU5 high 9728.0 now 9710.0 +16.5 ( at the highs, all reds were around 2.75%)
TYM5 high 114-10 now 113-205 +19 (long end didn’t rally all that much; deficits could easily worsen)
ESM5 low 4832.00 now 4927.00 -183, down 3.6% (at the low the futures were down about 22% from Feb 19 high. As mentioned on the weekend, the halfway point from 2022 low to this February’s high is 4863. The 2022 high was 4794. Holding so far).
Good luck today.
