LME Gold
 Date AM Midday      PM 
28-May 1720.00 1721.50 1719.00
27-May 1708.40 1709.40 1700.70
26-May 1726.20 1727.70 1722.30
22-May 1731.10 1732.70 1733.30
21-May 1736.70

1736.80

1732.40
20-May 1747.90 1748.20 1745.10
19-May 1733.60 1733.00 1736.90
18-May 1755.90 1762.60 1736.30
15-May 1733.00 1730.40 1735.10
14-May 1715.40 1712.20 1728.00
13-May 1701.90 1703.00 1707.30
12-May 1701.20 1701.00 1704.60
11-May 1703.70 1702.70 1705.30
07-May 1689.80 1691.00 1699.40
06-May 1702.30 1704.00 1697.00
05-May 1698.20 1699.40 1701.60
04-May 1702.40 1702.00 1705.90
01-May 1676.10 1682.60 1687.40
USD\EUR 0.9085
CNY\EUR 0.1269
CHF\EUR 0.9361
CAD\EUR 0.6590
AUD\EUR 0.5993
EUR\USD 1.1007
CNY\USD 0.1397
CHF\USD 1.0304
CAD\USD 0.7254
AUD\USD 0.6597

Bannockburn: Fed funds futures no longer implyingnegative rates

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(Kitco News) – The entire strip of Federal funds futures contracts last settled with positive implied yields, pointed out Bannockburn Global Forex. “The move began on Monday and was completed yesterday,” analysts said in a research note. Previously, some contracts in 2021 were factoring in negative rates, even though Federal Reserve policymakers have repeatedly said they do not favor negative rates, in which banks would essentially get charged a storage fee instead of being paid interest when they deposit reserves with the central bank. “There are two broad interpretations of the negative rates,” Bannockburn said. “The first camp sees it as some investors think that the Fed will adopt negative rates, though officials have denied it, or believe that they can deliver the Fed a fait accompli. The other camp is that the negative rates were a result of hedging activity associated with the swapping of floating for fix rates and other financial exposures. When the insurance/hedging activity ran its course, risk-takers, using fair-value models, could take advantage of the price discrepancy.”