US TSYS: Early SOFR/Treasury Option Roundup: Mixed Ahead NFP

• The BTP and the OAT futures are still leading in EGBs, the initial bid in OAT and wider Bonds came after the French heavy supply.
• Desks will look for the big resistance at 120.57 initially (see chart).
• Bund is still finding some resistance ahead of 131.24, but worth keeping an eye on BTP and OAT, although big moves could be limited ahead of the FOMC.

BTP Basis trade, suggest Cash buyer:

• IKM5 ~2k at 120.13.

DSTA has announced it will be looking to sell E1.5-2.0bln of the 2.00% Jan-54 DSL (ISIN: NL00150012X2) at its auction next Tuesday, May 13.