BUNDS: Greek/Bund spread test resistance
Apr-27 10:16
- With the Greek 10yr Yield back above 3.00%, did print a 3.134% high yesterday, now at 3.092%.
- The Greek/Bund spread is wider by another 9bps, and testing through initial resistance at 223.69, now at 224bps.
- Above the latter, opens to 229.72bps, the 11th March high (widest)
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OPTIONS: Expiries for Mar28 NY cut 1000ET (Source DTCC)
Mar-28 10:15
- EUR/USD: $1.0950-60(E1.0bln), $1.1000(E532mln)
- USD/JPY: Y120.50-70($649mln)
- USD/CAD: C$1.2535-50($1.0bln)
EGB OPTIONS: Bund put spread seller
Mar-28 10:12
RXK2 157/156ps, sold at 34 in 3.4k
STIR FUTURES: Fed Priced For A Further 8.5 Hikes This Year
Mar-28 10:11
- Further supply side disruption fears from a two-stage lockdown in Shanghai have helped push Fed hike expectations even higher.
- This follows from an increasing number of analysts calling for multiple 50bp hikes on Friday, the pick being Citi looking for four consecutive 50bp hikes.
- Today’s adjustment has been in 2H22, struggling to price much more over immediate meetings.
- FOMC-dated Fed Funds futures for May and June meetings are unchanged from late Fri with 44bps for May and 88bps for June. The latter implies a 21% chance of 75bps, 57% of 100bps and 22% of 125bps over the two meetings.
- Further out, cumulative hikes for Dec are up another 10bps to a new high of 216bps.
Source: Bloomberg
