US: Governor Beshear Requests Update On Senator McConnell's Health
Jul-08 14:47
Kentucky Governor Andy Beshear (D-KY) has formally requested: https://x.com/MeidasTouch/status/20748...
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GLOBAL: "*ISRAEL REJECTS IRAN’S WARNING NOT TO HIT LEBANON: KATZ" - bbg
Jun-08 14:41
"*ISRAEL REJECTS IRAN’S WARNING NOT TO HIT LEBANON: KATZ" - bbg
GILT SYNDICATION: 5.25% Jan-41 gilt syndication tap preview
Jun-08 14:37
- We expect the 5.25% Jan-41 gilt syndication to take place tomorrow (Tuesday) but with a chance of Wednesday.
- The gilt was launched via syndication in October for GBP9.0bln and then tapped also via syndication in January for GBP7.25bln. Both transactions saw books well in excess of GBP100bln.
- However, both transactions were also when the gilt was in the long-dated bucket and it has since migrated down to the medium-dated bucket. To date there have been no auctions for the gilt.
- After last month’s 10-year syndication saw GBP15bln sold, there is only GBP5bln remaining in the medium syndication bucket. We think that it would be unlikely to see a transaction this small, however, and pencil in GBP6-8bln as a more realistic target size – with a skew to a potentially larger transaction.
- We expect continued strong demand for this gilt, particularly as it has not been selected to be reopened via auction in FQ2 (Jul-Sep).
SOFR OPTIONS: Mixed SOFR Call Trade, Vol Buyers
Jun-08 14:33
- -20,000 SFRU6 96.12/96.25/96.37/96.50 call condors, 6.5-6.75 ref 96.19 to -.20
- +4,000 SFRZ6 96.626/96.87 call spds vs 2QZ6 96.62/96.68 call spds, 2.0 net flattener
- +10,000 SFRZ6 97.75 calls, 2.25 ref 96.055
- +1,000 SFRU6 96.19/SFRZ6 96.00/SFRH7 95.93 straddle strip, 131.0 total
- -2,000 2QM6 95.87/96.06 put spds, 4.75 ref 96.055
- +4,000 SFRZ6 95.56 puts, 7.0 vs. 96.05/0.17%
