US TSYS: Early SOFR/Treasury Option Roundup: Put Buyers Pause on Rate Bounce

• Treasury futures are extending highs in the last few minutes as crude prices continue to retreat (despite Iran denying Pres Trump's claim of talks today).
• TYU6 +17.5 to 108-17.5, yield -.0673 at 4.6674%. Technical resistance at the 20-day EMA is at 108-25.5.
• WTI crude -5.62 at %79.05/bbl.

Spain has announced it will be looking to sell a combined E5.0-6.0bln of the following Bono / Oblis at its auction this Thursday, August 6:

• the 2.60% May-31 Bono (ISIN: ES0000012Q16)
• the 3.00% Jan-33 Obli (ISIN: ES0000012P74)
• the 3.40% Oct-36 Obli (ISIN: ES0000012S22)

Spain has also announced it will be looking to sell E250-750mln of the 2.05% Nov-39 Obli-Ei (ISIN: ES0000012M69) at that auction.

Additionally, Spain has announced it will be looking to sell a combined E5.5-6.5bln of the following letras at its auction tomorrow, August 4:

• the 6-month Feb 5, 2027 letras
• the new 12-month Aug 6, 2027 letras

• MNI: US 31 JUL SECURED OVERNIGHT FINANCING RATE 3.66% (+1BP VS PRIOR)
• SOFR PERCENTILES: 25TH 3.64% (+1BP); 1ST 3.60% (UNCH)
• SOFR PERCENTILES: 75TH 3.72% (+2BP); 99TH 3.75% (+2BP)
• US 31 JUL SOFR VOLUME USD 3.205 TLN (3.011 TLN PRIOR)