EURJPY TECHS: Blows Through Resistance
Jul-03 19:00
* RES 4: 171.88 High Jul 19 '24 * RES 3: 171.28 1.382 proj of the Feb 28 - Mar 18 - Apr 7 price swin...
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US TSYS: Late SOFR/Treasury Option Roundup: Rate Cut Pricing Cools
Jun-03 18:58
Trading desks reported better downside SOFR & Treasury put flow Tuesday as underlying futures reversed early gains, trade weaker/near second half lows. Projected rate cut pricing retreats vs. morning levels (*) as follows: Jun'25 at -0.3bp (-1.2bp), Jul'25 at -6bp (-6.3bp), Sep'25 at -20.3bp (-22.2bp), Oct'25 at -33bp (-35.8bp), Dec'25 at -48.7bp (-52.6bp).
- SOFR Options:
- Update, +26,000 SFRZ5 95.37/95.62 put spds, 1.12-1.25 ref 96.15
- +10,000 SFRU5 95.93 calls, 13.5 ref 95.92
- +15,000 SFRZ5 97.00/98.00 call spds, 5.25 ref 96.16
- +7,000 SFRZ5/SFRH6 95.68/95.81 put spd spd .87 net/Dec over
- +20,000 SFRN5 96.75/96.87 call spds, cab
- +10,000 0QM5 96.87/97.12 call spds, 1.5 ref 96.58
- -5,000 0QZ5 96.75 straddles, 68.5-68.0
- -6,000 SFRU5 95.81 puts 3.0 over SFRZ5 95.75 puts
- +5,000 SFRZ5 95.75/95.87/96.00 put flys, 1.5 ref 96.185
- -1,000 0QZ5 96.75 straddles, 68.5 ref 96.745
- 1,800 2QM5 96.37/96.50/96.62 put flys
- +1,500 SFRZ5 96.50/96.6875/96.75 call fly, 3.0 vs 96.22/0.05%
- +1,500 0QQ5 95.75/96.00 put spd, 1.5
- -1,500 SFRZ5 95.62/95.68 put spd, 0.5 vs 96.245/0.05%
- Block, +5,000 0QM5 96.12/96.37 put spds, 2.0 ref 96.595
- 2,000 0QM5 96.62/96.75/96.87 call fly, 2.0
- +10,000 SFRU5 95.625 puts, 1.0
- Treasury Options:
- over +28,500 TYN5 110.5 puts, 37, total volume over 39,500 ref 110-18.5/0.48%
- 4,000 TYN5 110.5/110.75 strangle w/ 110.25/111 strangle. 1.63 net 110-19.5
- 3,000 TYN5 110.5 straddles, 115
- +5,000 TUN5/TUQ5 104.5 call spds, 4 (Aug over) ref 103-21.88
- 3,000 TYQ5 109/112 strangles, 102
- +2,500 wk1 Wed TY 110.25 puts, 2
- 1,150 FVN5 107 puts, 5.5 ref 108-06.25
- +1,000 wk1 Wed TY 110.5/110.75 2x1 put spd, 1.0 vs 110-26/0.08%
- +1,000 wk1 TU/wk1 Wed TU 103.87 call spds, 2.5
- +1,000 wk1 TU/wk1 Wed TU 103.75 call spds, 3.5
US STOCKS: Late Equities Roundup: IT & Energy Sector Shares Lead Gainers
Jun-03 18:56
- Stocks continue to trade in positive territory late Tuesday, paring gains after the White House announced Pres Trump will sign 50% steel & aluminum import tariffs Wednesday. Unfounded Trump-Xi Friday call rumor had buoyed stocks briefly.
- Currently, the DJIA trades up 236.32 points (0.56%) at 42541.49, S&P E-Minis up 34.75 points (0.58%) at 5982, Nasdaq up 163.1 points (0.8%) at 19405.76.
- S&P eminis had climbed to the highest level since May 29 earlier while Information Technology and Energy sectors continued tp outperform. Leading gainers in the IT sector included ON Semiconductor +9.03%, Microchip Technology +5.68%, First Solar +5.29%, Enphase Energy +5.23% and Arista Networks +5.11%.
- Oil and gas shares buoyed the Energy sector as crude prices remained stronger but off highs (WTI +0.90 at 63.42): APA +5.48%, Diamondback Energy +3.56%, Occidental Petroleum +3.31% and Devon Energy +3.05%.
- On the flipside, interactive media and entertainment weighed on the Communication sector with Charter Communications -1.47%, Live Nation Entertainment -1.28% and Alphabet -0.88%.
- Meanwhile, the Consumer Staples sector was weighed down by Kenvue -6.21%, Bunge Global -2.03%, Kroger -1.70% and Archer-Daniels-Midland -1.23%.
ECB: Macro Since Last ECB: Inflation - Hot Services Trend But Less Than Mid-2024
Jun-03 18:42
- The ECB’s seasonally adjusted HICP data for May saw services inflation pull back abruptly to 0.17% M/M from what had been a particularly strong 0.70% M/M.
- It saw 3M/3M momentum ease to 3.95% annualised from 4.10% in April.
- That’s comfortably above the 3.24% Y/Y but less worrying than a previous trend based on residual seasonality considering the previous similarities with last year’s momentum acceleration to a high of 5.2% in May 2024.
