Speculators Bet Wrong by Historic Levels Before Fed Hike: Chart

Speculators were sitting on a record short eurodollar position right up to Wednesday’s Federal Reserve policy decision, according to Commodity Futures Trading Commission data. The hawkish trade, which would have benefited from the Fed policy makers upgrading their median interest-rate forecasts, or the “dot plot,” was upended after they opted to stand pat and left their projections unchanged for 2017 and 2018.

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