The Eurodollar Market In The United States


by Marco Cipriani and Julia Gouny - Liberty Street Economics, Federal Reserve Bank of New York

In February, the Federal Reserve Bank of New York"s trading desk announced it will publish a new overnight bank funding rate early next year. The new rate will be based on both federal funds and Eurodollar transactions reported in a new data collection - the FR 2420 Report of Selected Money Market Rates. In a previous post, we explained how FR 2420 fed funds transaction data will replace brokered data as the base for the fed funds effective rate. This post provides insights on the Eurodollar market in advance of the publication of the overnight bank funding rate.


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What We Read Today 26 May 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Early Headlines: China Yuan Gains IMF Backing, Chinese Markets Bubble, Bond Market is Saying 2016, Controversial EU Migrant Quota System and More

Early Bird Headlines 27 May 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.



Infographic Of The Day: Food Photography

The principles of great food photography from an expert

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Video of the Day:

Senator Elizabeth Warren spoke on the Senate floor on February 26, 2015 about the Investor-State Dispute Settlement provision in the Trans-Pacific Partnership (TPP) trade agreement.

video of day picture

FOREX NEWS by DailyForex

Yellen’s Dollar Rally Pleases Global Banks

When Federal Reserve Chair Janet Yellen reiterated her expectations to raise interest rates this year for the first time since 2006 she put smiles on the faces of her peers at central banks around the world.

Dollar Recovers after CPI Release

Last week’s release of inflation data helped to push the US Dollar Index higher and lifted the greenback to an 8-year peak versus the Japanese Yen.

Greece Unable To Pay IMF

In June, Greece must repay €1.5 billion to the IMF and roll over €5.2 billion in short-term bonds.

Oil Prices Steady—For Now

Crude oil seems to be making a comeback. With prices rebounding significantly over the last few weeks, traders are jumping back in with expectations of continued gains.

Fed’s Fischer Says Rate Hike Debate Driven by Data, Not Date

With all the talk by Fed Chairwomen Janet Yellen and other Fed officials that interest rates will be raised by the end of the year, Federal Reserve Vice Chairman Stanley Fischer seems to be taking a different approach, believing that there is a risk to raising interest rates prematurely.
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You'll Never See a Better Moment to Invest in China

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What Exactly is the Role of an Inflation-Targeting Central Bank?

Hypocracy about "Rules" in the Eurozone

by Dirk Ehnts, Econoblog101

I have always thought that an inflation-targeting central bank is independent because it follows a clear goal: get inflation to fall in line with the target in the medium term. What I cannot understand is what ECB and Bundesbank are doing.


 USA economy at a glance (boxed items are updates in last 7 days)

May 2015 Chemical Activity Barometer Rises. Suggests Gains In Business Will Continue Into 2016.

from the American Chemistry Council

The Chemical Activity Barometer (CAB), jumped 0.7 percent in May, as measured on a three-month moving average (3MMA). Reaching an index of 99.3, last seen in November 2007, the CAB remains up 3.3 percent over a year ago, and suggests gains in business activity now will continue into 2016.

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