BUNDS: A 30 ticks jump in Bund on the US Data
Aug-01 12:38
* A 30 ticks Jump in Bund following the weaker than expected NFP, the AHE YoY was a touch higher, ...
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SOFR OPTIONS: BLOCKs: Sep25 Call Fly, Jul'25 Midcurve Calls
Jul-02 12:36
- Block, 5,938 SFRU5 96.00/96.25/96.50 call flys, 4.0 vs. 95.985/0.15%
- Block, 5,750 0QN5 97.18 calls, 1.5 ref 96.90
GILTS: 30-Year Yields Up Over 20bp
Jul-02 12:35
For context, the current 21bp move higher in 30-Year gilt yields would represent the biggest one-day move seen since April, when perceptions surrounding the UK’s fiscal fragility pushed yields higher.
- Outside of that, you have to go back to ’22 to see a bigger one-day move higher in the benchmark.
- Markets are not buying PM Starmer’s support for Chancellor Reeves at this stage, nor suggestions that Reeves’ tears in the Commons were linked to a personal matter, with any relief rallies sold into and short lived.
Fig. 1: Net 1-Day Change In UK 30-Year Gilt Yields (bp)
Source: MNI - Market News/ Bloomberg Finance L.P.
BUNDS: Breaking through the support
Jul-02 12:33
- The initial support noted this Week at 130.00 is being tested in Bund, also seen more selling interest into the Bounce off the low triggered by the US ADP miss.
- Bobl is sold in 7k, Bund has seen around 24k lots in past 5 minutes.
Looking at the German 10yr Yield, reference 130.05:
- 2.671% = 129.79.
- 2.701% = 129.49.
