EURIBOR OPTIONS: Jan 2026 Upside Call Spread Buyer

• Stocks are holding near steady (SPX eminis) to mixed ahead midday Monday, the DJIA underperforming as markets (rates, currency and equities) gradually unwound a portion of Friday's post-Chair Powell related rally.
• After climbing to new record high last Friday (45,757.84), the DJIA trades currently down down 236.08 points (-0.52%) at 45394.98, S&P E-Minis Future down 4.75 points (-0.07%) at 6478.75, Nasdaq up 64.6 points (0.3%) at 21561.27.
• Consumer Staples and Health Care sectors underperformed in the first half, highlight laggers in staples included: Keurig Dr Pepper -7.93%, Constellation Brands -3.47%, Estee Lauder -2.47%, Conagra Brands -2.19% and McCormick & Co -2.16%. Pharmaceutical stocks weighed on the Health Care sector: Dexcom -5.70%, Moderna -4.72%, Pfizer -2.16% and Align Technology -2.10%.
• On the positive side, tech stocks led gainers in the first half: Seagate Technology Holdings +3.49%, Western Digital +3.14%, Super Micro Computer +1.98% and NVIDIA +1.79% (Nvidia reports after Wednesday's close). Interactive media and entertainment shares were buoyed: Netflix +1.96%, Alphabet +1.44%, Electronic Arts +1.08%.

The MEF will sell the following at it's 5/10-year BTP /  CCTeu auction on Thursday 28 August:

• E2.00-2.75bln of the 2.70% Oct-30 BTP (ISIN: IT0005654642)
• E1.00-1.25bln of the 3.65% Aug-35 BTP (ISIN: IT0005631590)
• E1.75-2.00bln of the 3.60% Oct-35 BTP (ISIN: IT0005648149)
• E1.50-2.00bln of the 1.05% Apr-34 CCTeu (ISIN: IT0005652828)

• US TSY 13W BILL AUCTION: HIGH 4.100%(ALLOT 93.05%)
• US TSY 13W BILL AUCTION: DEALERS TAKE 28.87% OF COMPETITIVES
• US TSY 13W BILL AUCTION: DIRECTS TAKE 7.11% OF COMPETITIVES
• US TSY 13W BILL AUCTION: INDIRECTS TAKE 64.03% OF COMPETITIVES
• US TSY 13W BILL AUCTION: BID/CVR 3.07