US TSYS: Early SOFR/Treasury Option Roundup
May-25 11:06
Better call and call structure flow in SOFR and Treasury options overnight, change for the former after more consistent put trade over the last two sessions.
- SOFR Options:
- Block, 4,000 SFRM3 94.75/94.81 put spds, 3.75 ref 94.72
- 2,500 SFRH3 96.06/96.43 call spds ref 95.63
- 9,000 OQM3 96.12 puts, 24.0 ref 96.07
- 1,000 SFRN3 94.50/94.75 put spds vs. SFRQ3 94.75/94.87 put spds
- Block, 6,000 OQU3 98.00 calls, 6.5 ref 96.44
- Block, 4,000 OQM3 95.50/95.75 3x2 put spds, 6.5
- Block, 3,000 SFRV3 95.25/95.62 call spds, 10.0 ref 95.18
- 2,000 SFRV3 95.25/95.75/96.25 call flys ref 95.195
- 2,000 SFRM3 94.87/94.93 call spds ref 94.74
- over 27,500 SFRZ3 97.00 calls ref 95.165 to -.18
- Treasury Options:
- 7,400 TYM3 113 puts, 12
- 1,000 FVM3 108 puts, 6.5
- 5,100 TYM3 114 calls, 3 ref 113-06.5
- 3,300 wk3 TY 116/117/118 call flys
- Block/screen, 17,000 FVM3 110.75 calls .5
- Block/screen 20,000 FVM 111.25 calls, both .5
- 5,000 TYN3 117/119/120 broken call flys, ref 113-29
- 1,100 USU3 143 calls, 18 ref 126-23
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EGB SYNDICATION: Finland 10-year RFGB mandate
Apr-25 11:03
"The Republic of Finland has mandated BNP PARIBAS, CITI, CREDIT AGRICOLE CIB, DEUTSCHE BANK and NOMURA to lead manage its forthcoming EUR 3bn (no-grow) long 10-year benchmark transaction. The transaction will have a 15 September 2033 maturity and is expected to be launched in the near future subject to market conditions."
From market source
- MNI expects the transaction to take place tomorrow.
OUTLOOK: Price Signal Summary - Short-Term Gains In Bunds Are Considered Corrective
Apr-25 11:02
- In the FI space, Bund futures maintain a bearish tone. Recent weakness resulted in a break of the 20-day EMA, at 134.81, and a key short-term support at 134.70 has been cleared, Mar 31 low. The focus is on 132.70, 76.4% retracement of the Mar 2 - 20 rally. A move above 138.09, the Apr 6 high, is required to reinstate a stronger bullish theme. Initial firm resistance is seen at the 20-day EMA and short-term gains are considered corrective.
- Gilt futures remain in a downtrend and recent short-term gains are considered corrective. Price has recently breached support at 102.74, the Mar 31 low and a bear trigger. The extension lower has also resulted in a test of the 100.00 handle. A continuation lower would open 99.55, the Mar 8 low ahead of 99.20, the Feb 28 low and a key support. Initial resistance is seen at 101.40, today’s intraday high.
LIBOR: US FIX - 25/04/23
Apr-25 10:58
- O/N 4.80071 -0.007
- 1M 5.01771 0.00157
- 3M 5.29157 0.02343
- 6M 5.40586 -0.02814
- 12M 5.37300 -0.05471
