CROSS ASSET: CME Outage Persists, Exchange Will Notify on Pre-Open
Nov-28 10:02
- CME continues to advise that: "Due to a cooling issue at CyrusOne data centers, our markets are currently halted. Support is working to resolve the issue in the near term and will advise clients of Pre-Open details as soon as they are available."
- As a result, there are broad outages across US futures and options trading, impacting markets as diverse as US bond futures, commodities and equity index futures. As such, prices are absent for futures markets across Treasuries, crude oil and equity index futures.
- These technical issues are further reducing liquidity and volumes on what was already a quieter-than-average session. This will likely stymie the lagged return for US markets today, which are set for an early close due to the Thanksgiving holidays. There remains no schedule or indication for when trading across US equity and Treasury futures will resume.
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EQUITY OPTIONS: Large Deutsche Bank Put option
Oct-29 10:00
DBK (19th Dec) 30p, sold at 1.15 in 13.5k.
FOREX: FX OPTION EXPIRY
Oct-29 09:36
Of note:
EURUSD 2.87bn at 1.1600/1.1650.
AUDUSD 1.83bn at 0.6530 (a little far).
EURUSD ~1bn at 1.1650 (thu).
USDCAD 2.42bn at 1.4015/1.4025 (thu).
USDJPY 1.15bn at 152.50 (fri).
EURUSD ~1bn at 1.1640 (tue).
- EURUSD: 1.1600 (637mln), 1.1615 (346mln), 1.1640 (651mln), 1.1650 (1.24bn), 1.1670 (679mln), 1.1675 (282mln).
- USDJPY: 152.50 (299mln).
- USDCAD: 1.3970 (470mln).
- AUDUSD: 0.6530 (1.83bn).
- USDZAR: 17.1500 (210mln).
BONDS: Supply Underpinning Yields; 10-year Gilt/Bund Close To YTD Low
Oct-29 09:34
- Impending sovereign supply is likely underpinning UK and German yields this morning, keeping the 10-year Gilt/Bund spread close to the 2025 low of ~177.5bps.
- The DMO will sell GBP3.75bln of the new 4.125% Mar-33 Gilt at 1000GMT. Meanwhile, Germany will sell E4.5bln of the 10-year 2.60% Aug-35 Bund at 1030GMT.
- The April low continues to contain downside in 10-year Gilts, which are currently little changed at 4.40%.
- Spanish Q3 flash GDP confirmed expectations at 0.6% Q/Q (vs 0.8% prior), but domestic demand signals were solid. UK September consumer credit was in line with expectations.
- The EFSF has sent an RFP for an upcoming transaction, which will likely be held early next week.
- In the Eurozone, focus remains on the ECB decision (Thurs), Eurozone Q3 flash GDP (Thurs) and October flash inflation (Fri). In the UK, spillover from US Treasuries amid today’s FOMC decision will be eyed alongside ongoing budget headline flow.
