HYBRIDS: Hybrid Movers:

Mar-27 08:33
  • Volkswagen VW screening around 25c lower with the Equity -3.2% currently
  • New Unibail URWFP 4.875% Call30 screening 99.05 mid (5.08%) from 99.44 (5.0%) launch. The market in general is wider on the tariff news.

Historical bullets

STIR: SFRN5 96.50/97.00 Call Spread Blocked

Feb-25 08:27

Latest block trades lodged at 07:56:05 London/02:56:05 NY:

  • SFRN5 96.50/97.00 call spread 2.5K lots blocked at 4.25, CME indicates a buyer.
  • Another ~3.2K traded on screen around the block.

EGB SYNDICATION: Spain long 15-year Obli: Books open

Feb-25 08:23
  • Guidance: 3.90% Jul-39 Obli (mid) + 11bps area
  • Size: EUR benchmark (MNI expects E5-10bln)
  • IOIs in excess of E65bln (incl. E6.5bln JLM interest)
  • Maturity: 31 January 2041
  • Coupon: Short first to 31 January 2026
  • Settlement: 4 March-2025 (T+5)
  • ISIN: TBC
  • Bookrunners: BARCLAYS / CACIB (B&D/DM) / GSBE SE / HSBC / NOMURA / SG
  • Timing: Books open, today's business

From market source

 

US TSY OPTIONS: Large TY Outright Call buyer

Feb-25 08:21

TYJ5 110.50c, bought for '37 in ~54k.