SPAIN AUCTION RESULTS: Bono/Oblis/ObliEi
Aug-07 08:48
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EURIBOR OPTIONS: Latest Option Trades
Jul-08 08:47
- ERZ5 98.3125/98.4375/98.5625c fly vs 97.9375p, bought the fly for flat in 3.5k.
- ERZ5 98.00/97.9375ps, bought for 1.5 in 3k.
GILTS: Gilts Look Through OBR Release Highlighting Familiar Risks
Jul-08 08:43
No meaningful reaction in gilts following the release of the OBR’s Fiscal Risks and Sustainability Report. Yields still higher, with the curve steeper on the day.
- While the nature of the release is very long-term, some of the warnings surrounding downside risks to productivity and related impact on the UK’s debt profile are pretty bleak.
- Not a huge market mover intraday, but it won’t do much to alleviate worry surrounding the UK’s fragile fiscal state and well-documented productivity headwinds.
SPAIN T-BILL AUCTION RESULTS: 3/9-month letras
Jul-08 08:40
| Type | 3-month letras | 9-month letras |
| Maturity | Oct 10, 2025 | Apr 10, 2026 |
| Amount | E834mln | E1.966bln |
| Target | E2-3bln | Shared |
| Previous | E854mln | E1.626bln |
| Avg yield | 1.905% | 1.905% |
| Previous | 1.873% | 1.934% |
| Bid-to-cover | 2.52x | 1.79x |
| Previous | 2.89x | 2.28x |
| Previous date | Jun 10, 2025 | Jun 10, 2025 |
