FOREX: FX OPTION EXPIRY
Oct-09 08:25
- A quick side note on the EURUSD and Friday expiry, very far out of course, but there's 3.83bn worth of put option at 1.0500 (fri).
Of note:
NZDUSD ~1bn at 0.6050/0.6060.
USDCAD 1.2bn at 1.3650 (thu).
EURUSD 6.42bn between 1.0900/1.1000(fri).
USDJPY 1.46bn at 149.00 (mon).
AUDUSD 1.73bn at 0.6775 (tue).
- EURUSD: 1.0900 (482mln), 1.0910 (266mln), 1.0950 (358mln), 1.0965 (292mln), 1.1000 (790mln).
- GBPUSD: 1.3100 (253mln).
- NZDUSD: 0.6050 (751mln), 0.6060 (291mln).
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SONIA: Call spread vs Put spread
Sep-09 08:18
0NZ4 96.80/97.00cs vs 96.00/95.80ps, bought the cs for 2 in 3k.
UK DMO UPDATE: Gilt tender possible Thursday; DMO opens 1-day consultation today
Sep-09 08:12
- The DMO has announced that it has opened the consultation for a gilt tender for a gilt with a sub-3 year maturity this morning. It has requested feedback by 15:30BST today.
- A further announcement will be made tomorrow at 7:30BST with the DMO noting that Thursday this week (12 September) could be a possible date.
- The DMO last held a tender in September (GBP750mln of the 50-year 1.125% Oct-73 gilt). Prior to that there was a GBP1.5bln short 3-year tender of the 0.625% Jun-25 in August 2022 and the largest tender in recent times was GBP3.0bln for the 8.5-year 1.625% Oct-28 gilt in April 2020 (just after the first lockdown had begun and right at the start of the new fiscal year.
EU: Draghi To Present Competitiveness Report @ 1100CET
Sep-09 08:03
Former Italian PM and ECB president Mario Draghi is set to present his long-awaited, 400-page report on EU competitiveness this morning at 1100CET (0500ET, 1000BST). A livestream for the event can be found here. The report is seen as something of a guideline for European Commission economic policy over the coming years as Commission President Ursula von der Leyen finalises here team ahead of October's committee hearings.
- Politico reports, "It’s expected to be packed full of ideas on how Europe can stave off
decline and start competing more effectively against the U.S. and China [...] [the report] will include a blaring headline call to invest some €900 billion
into the European economy, ASAP. Expect suggestions from Draghi on how this
could be funded, for instance via taxes raised directly by the EU."
- An unnamed EU diplomat also told Politico: “We keep hearing about this call for multi-hundreds of billions of euros. But how feasible is that in an environment where the Germans have a budget crisis, the Dutch have said they want to lower their contribution to the EU and the French lack a government?”
- While there have been few leaks from the report, initially expected prior to the European Parliament elections in June, after a presentation to EU ambassadors and MEPs last week there is broad expectation that the report will position both the US and China as major economic competitors for the EU.
