Someone Just Placed A Massive Bet That Yellen Will Surprise Investors Tomorrow

Yesterday afternoon ar around 1450ET, someone placed a huge 10,750 contract bet on the eurodollar strip – hoping that Janet Yellen will flip-flop back to her hawkish side and reignite expectations for a faster pace of interest-rate increases when she speaks tomorrow in Jackson Hole.
The notional size of this trade is almost $11 billion. The last time such a huge bet was placed was into the US election in November.

This post was published at Zero Hedge on Aug 24, 2017.