BONDS: EGBs-GILTS CASH CLOSE: Short End Hit Hard On MidEast Re-Escalation
Jul-08 16:12
The European short end sold off substantially Wednesday as the US-Iran conflict re-escalated. * Fol...
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PIPELINE: Corporate Bond Update: $500M Blue Owl Cr Launched
Jun-08 16:12
- Date $MM Issuer (Priced *, Launch #)
- 06/08 $Benchmark GM 5Y +110a
- 06/09 $500M #Blue Owl Cr 5Y +255
- 06/09 $Benchmark Intuit 5Y +100a, 10Y +125a
- 06/09 $Benchmark Jackson Financial+10Y +190a
- 06/09 $Benchmark CNO Global Funding 5Y +115a
- 06/09 $Benchmark CIBC 3NC2 +80a, 3NC2 SOFR, 6NC5 +100a
- 06/08 $Benchmark Equitable America Global Unding 5Y +85
- 06/08 $Benchmark Dominion Energy 30.5NC5.25 6.15%, 30.5NC10.5 6.25%
- Later this week:
- 06/09 $Benchmark EIB 7Y SOFR+39a
- 06/09 $Benchmark Kommuninvest 1.75Y SOFR+20a
US 10YR FUTURE TECHS: (U6) Outlook Remains Bearish
Jun-08 16:03
- RES 4: 111-02+ High Apr 24
- RES 3: 110-28+ High May 7
- RES 2: 110-05+ 50-day EMA
- RES 1: 109-19+/110-00+ 20-day EMA / High May 29
- PRICE: 108-31 @ 16:59 BST Jun 8
- SUP 1: 108-25 Low Jun 08
- SUP 2: 108-08+ Low May 19 and the bear trigger
- SUP 3: 108-04 1.382 proj of Apr 17 - May 4 - 7 swing
- SUP 4: 107-29 1.618 proj of the Apr 17 - May 4 - 7 price swing
Treasuries traded lower Monday. The latest move down reinforces a M/T bearish theme and also potentially provides an early signal that the corrective cycle that started May 19, is over. Note that recent gains have allowed an oversold trend condition to unwind. Resistance to watch is 110-05+, the 50-day EMA. The bear trigger lies at 108-08+, the May 19 low. Clearance of this level would confirm a resumption of the downtrend.
US TSY OPTIONS: Scale Buyer Jul'26 10Y Calls
Jun-08 16:03
- 8,800 TYN6 110 calls, 10 ref 108-31 to -31.5, total volume over 40k on day
- 2,500 FVU6 106 puts, 33 ref 106-18
