EC futures dropped across the board over the past week, with the earlier
exuberance over the December rate hikes cooling off as spot market rates settle
into a tighter range which will likely hold for the rest of the month before
carriers attempt another round of rate hikes on 1 January.
The SCFIS rose by 7.2% in the latest 9 December release to reach 3,033 points,
but EC2412 still trades at a 12% premium at 3,398 with possible downside
pressure as the mid-December rate increases appear to have