EQUITIES: Bank stock option
Mar-09 10:23
SX7E 17th June 105/112.5cs, bought for 0.65 in 20k
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EQUITIES: Shanghai Stocks Catch Up Post Holiday
Feb-07 09:52
- Japanese markets closed weaker, while China markets rose on the post-holiday re-open: Japan's NIKKEI closed down 191.12 pts or -0.7% at 27248.87 and the TOPIX ended 4.57 pts lower or -0.24% at 1925.99. China's SHANGHAI closed up 68.141 pts or +2.03% at 3429.581 and the HANG SENG ended 6.26 pts higher or +0.03% at 24579.55.
- European equities are fairly flat, with the German Dax up 2.21 pts or +0.01% at 15111.04, FTSE 100 up 17.56 pts or +0.23% at 7534.16, CAC 40 up 4.81 pts or +0.07% at 6957.54 and Euro Stoxx 50 down 4.73 pts or -0.12% at 4084.02.
- U.S. futures are weaker, with the Dow Jones mini down 127 pts or -0.36% at 34851, S&P 500 mini down 14.25 pts or -0.32% at 4478.25, NASDAQ mini down 45 pts or -0.31% at 14640.5.
STIR FUTURES: Euribor under pressure after Knot comments
Feb-07 09:43
It's a mixed morning for STIR futures.
- SONIA and Euribor futures are both seeing little movement in Whites (if anything less priced in at the very front-end) but downward pressure focused around the Reds. The biggest mover is the Mar-23 Euribor future, following comments from Knot over the weekend that we could see a first 25bp rate rise in Q4-22 and a second in Q1-23. Indeed, markets are now pricing an even faster pace than this with 50bp of rate hikes fully priced by end-2022. This would bring the deposit rate to 0%. SONIA futures pricing has consolidated the five further 25bp hikes fully priced in for 2022 (Bank Rate to 1.75%) with 4 hikes fully priced by August.
- The Eurodollar strip, however, has moved a bit higher, off the lows seen after the European close on Friday. For comparison with the Euribor strip, both are trading around the same levels that were seen at 15:30GMT on Friday.
BOBL: Highest yield since 2018
Feb-07 09:43
- German 5yr Bobl yield is now at highest level since 09th March 2018.
- In pure technical, next support for the future is seen at 130.260 Low Oct 5, 2018 (cont).
- Next big upside target in Yield is situated at the 2018 high 0.153%. Further upside momentum would open to the 2015 high at 0.271%.
Reference 130.41:
- 0.153% = 129.91
- 0.271% = 129.21
Chart source: Bloomberg
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