Bonds
Biggest Futures Trade on Record Notched in SOFR Market
- 118,000 SOFR block beats prior record-sized trade from April
- Market has been debating the size of the Fed’s next rate cut
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A massive trade was made in the short-term interest rates market Wednesday.
If not an outright bet on less Federal Reserve easing than currently priced for the year, the transaction could also be an investor taking profits and unwinding their long position as the contract traded close to its yearly highs.