EGB SYNDICATION: Finland New 15-year Apr-41 RFGB: Spread set
Jan-21 09:26
* Size: EUR Benchmark (MNI expects E3bln, with risks of E4bln) * Books in excess of E22bln (inc E 75...
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FOREX: FX OPTION EXPIRY
Dec-22 09:08
Of note:
EURUSD 3.99bn at 1.1675/1.1725.
USDJPY 1.22bn at 157.50.
- EURUSD: 1.1675 (1.4bn), 1.1700 (1.41bn), 1.1720 (244mln), 1.1725 (932mln), 1.1800 (570mln), 1.1815 (1.02bn).
- GBPUSD: 1.3400 (1.39bn).
- EURGBP: 0.8750 (330mln).
- USDJPY: 157.00 (765mln), 157.50 (1.22bn).
- USDCAD: 1.3760 (436mln), 1.3800 (440mln).
- AUDUSD: 0.6610 (550mln).
- NZDUSD: 0.5780 (324mln).
EGB OPTIONS: More Bund Put buyer
Dec-22 09:03
RXG6 126.00p, bought again for 29 in 7.2k total now.
GILTS: Curve Steepens, Support Untouched In Futures
Dec-22 08:41
Gilts look to Bunds for early cues, initially selling off at the open, before a recovery.
- Futures -19 at 90.75 after basing at 90.65.
- Support and resistance of note located at 90.50 & 91.93, respectively. Post-BoE price action tilts focus back towards support.
- Yields 0.5bp lower to 1bp higher, curve twist steepens.
- Month-to-date highs intact/untested across the curve.
- Gilt/Bund spread sticks to the recent range after last week’s failed break below 160bp, last +1bp at 163.6bp.
- 2s10s less than 2bp off the November closing high (79.52bp), last 78.23bp.
- Final Q3 UK GDP data met expectations, with total business investment firmer than expected. Meanwhile, the Q3 current account deficit was narrower than expected.
- Elsewhere, a survey from jobs website Adzuna pointed to scaled back hiring ahead of the Budget, which isn’t a surprise.
- SONIA futures roughly in line with pre-gilt open levels, BoE-dated OIS pricing ~38bp of easing for ’26.
- Looking ahead, only lower tier UK data is due ahead if the Christmas break, with the Lloyds Business Barometer set to cross just after midnight
