Futures market update: Basis premiums plummeting

Basis premiums continue falling, both on CME and the offshore exchanges. 
Source: Skew

After reaching its highest levels so far in 2022, the basis premium on CME quickly retracted and is now sitting below 2%, among the lower levels seen this year.

The basis premium on CME started falling around two weeks ago, one week before it fell on the offshore exchanges.

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