A pre-jobs report bet may have have netted trader $10 million profit, report says

A bet on fed-funds futures just ahead of Friday's January jobs report may have netted a trader a $10 million profit, according to Bloomberg.

A big fed-funds futures bet placed just before the release of what turned out to be a blowout U.S. January jobs report may have netted a trader a profit north of $10 million, Bloomberg reported Friday.

The... A big fed-funds futures bet placed just before the release of what turned out to be a blowout U.S. January jobs report may have netted a trader a profit north of $10 million, Bloomberg reported Friday. The trade was placed around 8:15 a.m. Eastern, Bloomberg said, citing traders familiar with the flow, with the contract priced at 95.59, implying expectations for an average fed-funds rate of 4.41% next January. The contract fell to a low around 95.37 in afternoon trade, implying a fed funds rate of 4.63%.Fed-funds futures sold off after the much stronger-than-expected January jobs report and a sharp rebound in the Institute for Supply Management’s January service sector activity index.

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