BUNDS: Extending lower on heavy Volumes
Jun-25 13:05
- Counterparties are finding each others in Bund, this is the best 5 minutes Volume seen for the day, around 30k trades, and the Bund only moves 1 tick at a time.
- The 2.60% 10yr Level equates to 130.07, this is the main support to watch.
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FRANCE T-BILL AUCTION RESULTS: 14/25/51-week BTFs
May-26 12:55
| Type | 14-week BTF | 25-week BTF | 51-week BTF |
| Maturity | Sep 3, 2025 | Nov 19, 2025 | May 20, 2026 |
| Amount | E3.293bln | E1.899bln | E1.893bln |
| Target | E2.9-3.3bln | E1.5-1.9bln | E1.5-1.9bln |
| Previous | E2.993bln | E1.898bln | E2.098bln |
| Avg yield | 1.999% | 1.982% | 1.913% |
| Previous | 2.042% | 2.011% | 1.947% |
| Bid-to-cover | 3.39x | 4.91x | 3.57x |
| Previous | 4.33x | 3.94x | 3.44x |
| Previous date | May 19, 2025 | May 19, 2025 | May 19, 2025 |
FOREX: BBDXY Holds Off Lows, No Reaction To Trump's Latest Trade Comments
May-26 12:54
No reaction in the USD after President Trump post the following on Truth Social: "Countries from all over the World want to make TRADE DEALS with us. IT IS A BEAUTIFUL THING TO SEE. The Good Ol’ USA will soon have tremendous growth, and be stronger than ever before!!!"
- The BBDXY had already pared most of its Asia-Pac losses, although the USD has only outperformed the traditional safe havens (JPY & CHF) since Friday’s close, losing some ground against the remainder of its G10 peers.
- Some of the bounce in the USD may be attributed to outperformance for e-minis vs. European peers since London trade got underway.
- The Antipodean and Scandi currencies still outperform on the day, given the uptick in equities/reduction in global trade tensions after U.S. President Trump delayed the imposition of 50% tariffs on the EU.
- A reminder that wider liquidity is thinned by the observance of holiday’s in both the U.S. & UK.
EURIBOR OPTIONS: ERN5 98.12/98.06 1x2 Put Spread Lifted
May-26 12:48
ERN5 98.12/98.06 1x2 put spread paper paid 0.25 on 5K.
