With most of the focus on overnight financing, Eurodollar futures proceeded to trade in a 5-6 tick range across most expirations. Most of the action was focused on upside structures, except for one prominent trade.
Surprisingly quiet overnight, given the backdrop of oil news. Less than 100K options traded overnight. Futures also moved within tight ranges, the bulk of the expirations had just a 5.5 tick range. No real economic numbers and waiting for fed kept things tame throughout the session.
Futures trended down overnight before finding a bid after the NFP number, moving from lower on the day to slightly higher. The market traded in a tight range for the remainder of the day as the response to Powell was minimal.