CROSS ASSET: Gold and Treasuries Extend Gains After Iran-IAEA Headlines
Aug-27 16:53
Spot gold has lifted to session highs of $3398.0 and TYZ5 to 112-12 following IAEA-Iran headlines re monitors not yet having returned to damaged Iran sites and that Iran isn’t providing adequate access to inspectors.
- Gold resistance seen at $3409.2 (Aug 8 high) after which lies $3439.0 (Aug 23 high).
- Building on earlier gains, TYZ5 starts to eye the bull trigger at 112-15+ (Aug 5 high) after which lies 112-19 (Fibo proj of Jul 15-22-28 price swing).
- BBDXY continues to pare earlier gains, now negative on the day.
- Stocks are broadly stable however. Nasdaq near record highs ahead of Nvidia earnings later today.
"*UN ATOMIC WATCHDOG SAYS INSPECTORS ALLOWED BACK TO BUSHEHR NPP
*UN ATOMIC WATCHDOG SAYS NO EVIDENCE IRAN MOVED HEU INVENTORY
*IAEA MONITORS HAVE 'NOT YET' RETURNED TO DAMAGED IRAN SITES
*IRAN ISN'T PROVIDING ADEQUATE ACCESS TO IAEA INSPECTORS: GROSSI" - all bbg
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OPTIONS: Condors, Ladders, And Spreads Monday
Jul-28 16:52
Monday's Europe rates/bond options flow included:
- DUU5 107.10/107.20/107.30/107.40c condor, bought for 2.5 in 3k.
- ERU5 98.06/98.00 put spread sold at 4.75 in 7k
- ERZ5 98.37/98.75cs, bought for 1.5 in 5k
- SFIX5 96.15/96.10/96.05p ladder, bought for flat in 5k (ref 96.30)
US TSYS/SUPPLY: WI 5Y
Jul-28 16:51
The 5Y WI has retreated to 3.973% from 3.981% earlier, 9.4bp cheap to last month's tail: 3.879% high yield vs. 3.872% WI.
FED: US TSY 5Y AUCTION: NON-COMP BIDS $117 MLN FROM $70.000 BLN TOTAL
Jul-28 16:45
- US TSY 5Y AUCTION: NON-COMP BIDS $117 MLN FROM $70.000 BLN TOTAL
