BONDS: Greek/Bund spread test support
May-12 13:44
- While the Portugal/Bund spread still finds some support at the 80.00bps handle, the Greek/Bund spread test this Month's low at 170.24bps, which is also the tightest print since 25/01/22.
- Further tightening traction will open to 165.00bps.
Chart source: MNI/Bloomberg
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US TSY OPTIONS: BLOCK, Ratio 10Y Calendar Combo Covered
Apr-12 13:41
10Y package Blocked at 0931:55ET:
- -15,000 TYK 116.5 calls, 23 vs.
- +7,500 TYM 114 puts, 30 vs.
- +5,475 TYM 116-00
EUR: EURUSD makes an attempt at 1.1000.
Apr-12 13:40
- EURUSD looks to make another attempt at the 1.1000, and the last time it traded above that level was on 2nd February, when it printed a 1.1033 high, with the latter, also the highest print since the 04/04/22.
FRANCE: Elysee-Macron Makes No Apology For Comments On China Trip
Apr-12 13:36
Wires reporting comments from an official at the Elysee Palace regarding President Emmanuel Macron's recent trip to China. States that Macron "makes no apology for what he's said during China trip." Says that the headline of a recent Politico interview was 'sensationalist' and that Macron had said nothing in the interview that was not known already.
- Official says Macron "told Xi in Beijing he wanted the Taiwan issue to be solved pacifically'. During recent Chinese military exercises, the French navy patrolled through the Taiwan Strait.
- Elysee official: 'When Macron talked to US President Joe Biden ahead of the China trip, Biden said he didn't want a war'. Says that Macron 'agrees with Biden on Taiwan, but doesn't agree with US Congress leadership strategy to use Taiwan to pressure China.
- Official states that former US President Donald Trump's comments regarding President Macron were 'vulgar' and that when Trump went to Beijing he said 'I can't blame China'.
- Macron's interview with Politico/Les Echos saw a backlash from China hawks in EU and US who argued the president's comments saying that Europe should not get involved in "crises that aren't ours" would embolden China to pursue military action against Taiwan.
