EQUITIES: Large Longer Dated Commerzbank Option
Jun-13 11:03
CBK (18/12/26) 20p, bought for 2.47 in 25k....
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MNI: US MBA: MARKET COMPOSITE +1.1% SA THRU MAY 09 WK
May-14 11:00
- MNI: US MBA: MARKET COMPOSITE +1.1% SA THRU MAY 09 WK
EQUITIES: Credit Agricole Put Option
May-14 10:56
XCA (20th June) 14p, sold at 0.03 and 0.06 in 6.5k.
US TSYS: Modestly Firmer In A Thin Docket Before A Busy Thursday
May-14 10:50
- Treasuries are slightly firmer overnight, more comfortably back in the middle of yesterday’s range awaiting fresh drivers.
- It’s a thin data docket today (just weekly mortgage data) which sees Fed Vice Chair Jefferson in a little more focus at 0910ET, and with an eye on tomorrow’s April reports for US PPI and retail sales amongst others.
- US President Trump flies from Saudi Arabia to Qatar today.
- Cash yields are 0.5-1.5bp lower on the day, with declines led by the belly.
- TYM5 sits at 110-06+ (+ 07+) as it lifts a little more off yesterday’s latest lows of 109-30, on modest cumulative volumes of 280k.
- Technicals point to a bear mode condition, having most recently cleared support at 110-01+ (76.4% retrace of Apr 11 – May 1 bull leg) in a step closer to key support at 109-08 (Apr 11 low).
- Data: MBA mortgage applications (0700ET)
- Fedspeak: Jefferson (0910ET), Daly (1740ET) – see STIR bullet
- Bill issuance: US Tsy to sell $60bn 17-w bills (1130ET)
