MNI: Coming up in the Asia-Pac session on Thursday
May-01 21:28
| 2345GMT | 0645HKT | 0845AEST | NZ Mar Building Permits |
| 0000GMT | 0700HKT | 0900AEST | South Korea Apr CPI |
| 0050GMT | 0750HKT | 0950AEST | Japan Apr Monetary Base |
| 0050GMT | 0750HKT | 0950AEST | Japan BoJ March Mins |
| 0130GMT | 0830HKT | 1030AEST | South Korea Apr PMI |
| 0230GMT | 0930HKT | 1130AEST | Australia Mar Building Approvals |
| 0230GMT | 0930HKT | 1130AEST | Australia Mar Trade |
| 0430GMT | 1130HKT | 1330AEST | Japan 3mth Bill Auction |
| 0600GMT | 1300HKT | 1500AEST | Japan Apr Consumer Confidence |
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSYS: Holding Session Lows, Focus on Friday's Employment Data
Apr-01 19:42
- Treasuries retreated from early session highs after ISM Manufacturing & Construction Spending climbed. Sluggish open with much of Europe out for Easter Monday, volume surged after ISM Manufacturing climbed above 50.0 for the first time since September 2022, higher than expected at 50.3 vs. 48.3 est.
- Additionally: Prices Paid, New Orders and and Employment metrics all higher than estimated. Meanwhile, MoM Construction spending -0.3% vs. 0.7% est. S&P Global US Manufacturing PMI came out lower than expected at 51.9 vs. 52.5 est, 52.5 prior.
- Jun'24 10Y Tsy futures trade -27 after the close at 109-30.5, breaching initial technical support at 109-24+ (Mar 18 Low and bear trigger). 10- and 30Y yld both up over 10bp at 4.3251% and 4.4669% respectively while yield curves bear steepened: 2s10s +3.643 at -38.530.
- Projected rate cut pricing retreated: May 2024 at -6.7% vs -10.9% this morning w/ cumulative -1.7bp at 5.312%; June 2024 -53.4% vs. -60.5% earlier w/ cumulative rate cut -15bp at 5.179%. July'24 cumulative at -23.1bp, Sep'24 cumulative -38.9bp.
- Tuesday Data Calendar: JOLTS, Durable/Factory Orders, Fed Speak. Main focus, however, is on Friday's March employment report, current job gain estimate at +205k.
US TSYS: Late SOFR/Treasury Option Roundup
Apr-01 19:10
Mixed trade coalesced into better upside hedging Monday, fading the post data sell-off and lower projected rate cut pricing: May 2024 at -6.7% vs -10.9% this morning w/ cumulative -1.7bp at 5.312%; June 2024 -53.4% vs. -60.5% earlier w/ cumulative rate cut -15bp at 5.179%. July'24 cumulative at -23.1bp, Sep'24 cumulative -38.9bp.
- SOFR Options:
- Block, -12,000 SFRK4 94.75 puts, 2.0 ref 94.83
- over 24,000 SFRM4 94.87/95.00 call spds
- Block, 5,000 SFRU4 95.25/95.75 2x3 call spds, 5.0 net, 2 legs over ref 95.055
- -22,500 SFRM4 94.75/94.81/94.87/94.93 put condors 1.0-1.25 ref 94.82
- -4,000 SFRU4 95.00/95.12/95.43/95.56 call condors vs SFRU4 94.81/94.93 put spds, 0.5 ref 95.05
- +10,000 SFRM4 94.87/94.93/95.00/95.06 call condors, 2.25 post data after paying 2.5 for 10,000 pre-data
- -11,000 SRJ4 94.81 puts 2.25 vs. 94.83/0.40%
- -5,000 SRU4 94.50/94.75/95.00 put flys 6.5, ref 95.055
- -5,000 SRM4 94.87/94.93 put spds, 3.75 ref 9483.5
- +5,000 SRM4 94.68/94.75/94.81 put flys 0.75 ref 94.835
- +2,000 0QM4 96.50 calls, 5.5
- Treasury Options:
- 3,000 FVK4 106.75/107.5/108 broken call flys, ref 106-15.5
- 3,000 TYK4 108.5/111.5 strangles, 24 ref 109-29.5
- 1,700 TYM4 116/116.5/117/117.5 call condors ref 109-30
- 4,000 USK4 117/118 put spds, 25 ref 118-21
- 1,000 USK4 111/115/117 broken put fly, 14 ref 119-15
- 10,600 TYK4 109 puts, 9
- 6,200 TYK4 110 puts, 22 last
- 1,000 FVK4 105.75 puts, 5.5
US STOCKS: Late Equities Roundup: Interactive Media, O&G Stocks Outperform
Apr-01 18:57
- Still weaker, stocks are see-sawing off midday lows in late Monday trade, Communication Services and Energy sector stocks outperforming in the second half. Currently, DJIA is down 264.78 points (-0.67%) at 39544.79, S&P E-Minis down 15.5 points (-0.29%) at 5293.25, Nasdaq down 4.9 points (0%) at 16375.77.
- Leading Gainers: Interactive media and entertainment stocks continued to buoy the Communication Services sector: Google +2.77%, Meta +1.23%, Netflix +0.78%. Meanwhile, Energy stocks outpaced earlier IT stocks in the second half, oil and gas stocks firmer as crude remained strong (WTI +0.66 at 83.83): APA Corp +2.36%, Occidental Petroleum +2.23%, Devon Energy +1.75%.
- Laggers: Real Estate and Health Care sectors underperformed in late trade, REITS and estate management shares weighing on the former: Equinix -2.96%, Boston Properties -2.48%, American Tower -2.44%. Pharmaceutical stocks weighed on the Health Care sector late Monday: Illumina -3.42%, Eli Lilly -2.48%, Bristol-Myers -1.88%.
