EMISSIONS: BNEF Sees Limited Impact from Brazil’s Carbon Coalition At Cop30
Nov-14 15:00
{2Brazil has launched the open coalition on compliance carbon markets at COP30, but BNEF sees the initiative unlikely to drive material progress at the summit.
- The coalition aims to promote discussions on CO2 pricing, emissions accounting, high-integrity offsets and long-term interoperability of compliance markets.
- Its 12 signatories, including EU and UK, account for around 43% of global emissions.
- Meaningful progress would require linking compliance carbon markets and standardising credit use.
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US TSY OPTIONS: Dec'25 10Y Calls
Oct-15 14:57
10,000 TYZ5 114.5 calls, 22 ref 113-15, total volume over 23,500
STIR FUTURES: BLOCK: Mar'26/Jun'26 SOFR Futures
Oct-15 14:56
Both legs crossed on offer at 1053:15ET:
- 6,000 SFRH6 96.61
- 6,000 SFRM6 96.84
US TSY OPTIONS: Rise in Nov'25 10Y Call Trade, What's the Point?
Oct-15 14:51
Underlying Dec'25 10Y futures creeping higher (TYZ5 113-15, +2) 10Y yield -.0250 at 4.0071%. November options expire on Friday, October 24 - the week before the next FOMC rate announcement on Wednesday, October 29. What's the point?
- Possibly covering shorts well ahead of the policy announcement, or a near-term cover vs. short Dec positions, or hedging a perceived kink in the vol surface. A speculative alternative: a short term play ahead of the meeting where underlying continues to creep higher - as they did going into the Sep FOMC, only to retreat after the rate cut -- presents a short window of opportunity to unwind or roll before expiring. Recent trade:
- over 9,000 TYX5 114.5 calls, 4 ref 104-14 to -14.5, total volume over 12,600
- 5,000 TYX5 113/113.5/114 2x1x1 call trees, 45 ref 113-14
