Thursday, February 01, 2007

Buying more Dec '07 Eurodollar

Just bought £20 of Dec '07 Eurodollars at 94.83...adding to my £100 I already have that I bought at the wrong time! Original trade at 95.225, new trade today trying to average into a better level, and also I think the US is going to slow down this year a lot quicker than the market is pricing in.
 
The housing slowdown is only just unfolding, and one of the few ways the FED can stop the crunch is by cutting rates. Despite a lot of bloggers giving it the "it's different this time" thoughts, I think slower growth = lower inflation = lower rates, as it always has.

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