BONDS: EGBs-GILTS CASH CLOSE: Week Of Two Halves Concludes With Gains
May-16 17:53
European FI concluded a week of two halves with a modest rally Friday, the second consecutive sessio...
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OPTIONS: Call Structure Buying Across Contracts
Apr-16 17:52
Wednesday's Europe rates/bond options flow included:
- DUM5 107.70/108.00/108.10c ladder, bought for half in 2.1k.
- ERU5 98.25/98.50cs 1x2, bought for 2.5 in 3k
- SFIM5 95.95/9610/96.25c fly, bought for 2.75 in 3k
STIR: BLOCK/Pit Sep'25 SOFR Call Fly Buyer
Apr-16 17:46
- total +20,000 SFRU5 96.00/96.25/96.50 call flys, 4.25 net ref 96.275 to -.28
US TSYS: Chairman Powell Reactions
Apr-16 17:40
- Treasuries holding modest gains, upper half of narrow range as Fed Chairman Powell begins speaking at the Economic Club of Chicago.
- Tsy Jun'25 10Y futures trading +4 at 111-06.5 vs. 111-09.5 high, still well below secondary technical resistance of 111-25 (50.0% retracement of the Apr 7 - 11 bear leg).
- Curves are scaling off steeper levels, 2s10s +2.053 at 50.443 vs. 53.324 high, 5s30s +3.580 at 82.619 vs. 83.791 high.
- Stocks, on the other hand have extended lows (SPX eminis down to 5332.25) - apparently taking cue from Powell that the Fed is "well positioned to wait for more clarity". Chip stocks and discretionary sectors still leading laggers.
