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ZQJ2023

30 Day Federal Funds Futures (Apr 2023)

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Overview

News Ideas Discussions Forward curve Seasonals Contracts

30 Day Federal Funds Futures (Apr 2023) chart

Full chart

Contract highlights

Volume

—

Open interest

—

Contract size

4167

Month

Apr 2023

Settlement day

May 1, 2023

Ideas

Money Market says that rate cut will be an urgent one (again)Just take a look on a rate cut expectations. In a short, the main technical graph is a difference (spread) between the nearest futures contract on FOMC interest rate (in this time Sept'24 ZQU2024) and the next one futures contract (in this time Oct'24 ZQV2024). It's clear that spread turned to neg

by Pandorra

The US Election and Possible Fed Rate Detour CBOT: Micro 2-Year Yield ( CBOT_MINI:2YY1! ), Micro 10-Year Yield ( CBOT_MINI:10Y1! ) Last Thursday night, I watched the first Biden-Trump presidential debate live on TV, along with tens of millions of likely voters of the 2024 US presidential election. Who won the debate? According to the exit p

Short

by JimHuangChicago

🎲 Interest Rates. To Cut, or not to Cut. That is the question Jamie Dimon Sees ‘Lot of Inflationary Forces in Front of Us’, as in recent interview to Bloomberg JPMorgan CEO has warned for months that rates could stay high. Jamie Dimon said he’s still more worried about inflation than markets appear to be. The JPMorgan Chase & Co. chief executive officer said

by Pandorra

An Uncharted Landscape of Prolonged Yield Curve Inversion CBOT: Micro 2-Year Yield ( CBOT_MINI:2YY1! ) and Micro 10-Year Yield ( CBOT_MINI:10Y1! ) The recent US inflation cycle started in June 2020. As the global pandemic interrupted the global supply chain, the prices of goods began to rise rapidly. In the following two years, the headline CPI shot up nea

Short

by JimHuangChicago

Repricing Interest Rate Cuts! We return to Fed Fund Futures, as the market has been repricing interest rate cut expectations. At the beginning of the year, there were 150bps of cuts expected by the market on the premise of a weaker economy, falling inflation, and a softer labor market. However, none of these expectations have ma

Long

by Blue_Line_Futures

The Final Piece Of The Pre-FOMC Data Jigsaw After a disappointing labour market report last week, where a blowout nonfarm payrolls print was overshadowed by rather dismal details in the household survey, focus now turns to the February US CPI report, being the last significant piece of the data jigsaw before the March FOMC meeting. Off the ba

by Pepperstone

Macro Trader: Swaps = Dots Well, what a turnaround it’s been. Just 57 days ago, markets were flat-out ignoring what the FOMC were saying on the policy outlook, and pricing as many as six 25bp rate cuts over the course of the year ahead. Now, less than two months later, the swaps are in line with the dots, as we see money mark

by Pepperstone

How Many Interest Rate Cuts in 2024?In January 2024, the market had priced in more than 150 basis points worth of interest rate cuts. This suggested six 25-basis-point cuts throughout the year. Market participants believed that economic weakness was on the horizon, thus pricing in more cuts than the Fed’s Summary of Economic Projectio

by Blue_Line_Futures

The Summer Of Rate Cuts London is cold, wet, and grey at present – rather typical of your average British winter. I hope, then, that you’ll forgive me for looking ahead to the brighter summer months, particularly as financial markets are beginning to do the same. Even after a hotter-than-expected January US CPI report, mo

by Pepperstone

Fed Funds Futures - Repricing Economic Resilience?Recent price action in the CME's 30-day Fed Funds Futures has ruled out one cut for 2024. As of the end of 2023, the spread between the front-month Fed Funds Futures and the deferred (December) ones indicated a 150-155 basis points spread, suggesting that the markets were anticipating six cuts in 20

by Blue_Line_Futures

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Seasonals

Displays a symbol's price movements over previous years to identify recurring trends.

Forward curve

A representation of what an asset is worth today and what the market thinks it will be worth in the future.

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Frequently Asked Questions

The nearest expiration date for 30 Day Federal Funds Futures (Apr 2023) is May 1, 2023.

Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell 30 Day Federal Funds Futures (Apr 2023) before May 1, 2023.

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