US EURODLR OPTIONS: BLOCK, Midcurve Put Buy

Russia's state-owned Tass reporting comments from Foreign Minister Sergey Lavrov stating that Russia continues to support talks with Ukraine over a potential ceasefire agreement.

• Lavrov: "I see no reasons for not continuing them [the talks], although the Ukrainian side tends to be evasive, sometimes doing U-turns and rejecting what it proposed a couple of days before. But we are persistent and patient,"
• Speaking to Rossiya-24 News, Lavrov also statd that Russian military activity would not be halted in order to allow talks to take place.
• At present there is no set date for talks to resume.

Odd kink in Eurodollar Reds as front end of strip trades steady to higher now as inversion between EDM3 (+0.005 at 96.545) and balance of strip extends EDU3-EDZ3 +0.030-0.025 at 96.56 and 96.66 respectively. Reds outperforming balance of strip (-0.005-0.065, Golds underperforming) now.

• Inversion a low measure of confidence in forward policy and/or Fed managing a soft landing/avoiding recession.
• Trading desks note pick-up in Eurodlr/SOFR spds in Jun'22 (0.285) and Sep'22 (0.235) around same time.