check out this June 2022 Eurodollar chart:

https://futures.tradingcharts.com/chart/GE/62?anticache=1634846647

what strikes me that for the first time in recent months ‘buying the dip’ doesn’t seem to be working.

now check out the longer term chart:

https://futures.tradingcharts.com/chart/GE/M?anticache=1634846652

My conclusion is that the 2022 Eurodollar short has a long way to go (largely because 5% inflation in normal times translates into- at least- 5% yield on Eurodollars versus the still puny less than .4% yield today) AND that the manipulators (ie Fed, Treasury, White House…etc…) are to a degree throwing in the towel at holding down interest rates in favor of trying to prop up the stock market (where buying the dip cost me a profit on a NASDAQ short)