US DATA: Challenger Report Shows Little Hiring Appetite [2/2]
Nov-06 10:05
Challenger hiring announcements failed to materially bounce in October after a particularly soft Sep...
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BUNDS: German 2s/5s Swap Curve Trade
Oct-07 10:01
- DUZ5 ~8.1k at 107.00 (suggest receiver).
- OEZ5 ~2.8k at 117.78 (suggest payer).
EURIBOR OPTIONS: Call Spread with Put Spread strip
Oct-07 09:58
EURM6 98.1875/98.25cs 1x1.75 with ERH6 98.00/97.9375ps sold as a strip at 1 in 4k.
GERMAN AUCTION RESULTS: Disappointing Bobl Auction
Oct-07 09:49
- The 1.11x bid-to-cover achieved at today's auction of the 2.20% Oct-30 Bobl was the joint lowest at a Bobl auction since July 2021 (1.11x was also reached in July 2022). Bid-to-offer also very weak at 0.84x.
- Demand metrics were similarly weak for other parts of the German curve recently but this has been the first time this has filtered through to the extent seen today to the Bobl segment.
- The low price achieved at the auction (99.48) was above the secondary market mid-price right before the cutoff (99.467), at least.
- No discernible price impact of the weak results on the line, this is not untypical for German auctions.
