SWAPS: Long End GBP Spreads Off Lows But Risk Elevated Into Budget
Nov-21 15:27
The stabilisation seen in wider core global fixed income markets over the last 24-36 hours has allowed long end UK swap spreads to edge away from this week’s lows.
- Still, the bulk of the move has stuck, with questions surrounding the future of PM Starmer and the apparent u-turn when it comes to income tax rate hikes in the upcoming Budget combining to deepen the level of fiscal and political risk premia embedded into UK paper over the last week or so.
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FED: US TSY 17W AUCTION: NON-COMP BIDS $475 MLN FROM $69.000 BLN TOTAL
Oct-22 15:15
- US TSY 17W AUCTION: NON-COMP BIDS $475 MLN FROM $69.000 BLN TOTAL
US 10YR FUTURE TECHS: (Z5) Bull Cycle Intact
Oct-22 15:15
- RES 4: 115-00+ High Oct 1 ‘24 (cont)
- RES 3: 114-21+ 1.00 proi of the Aug 18 - Sep 11 - 25 price swing
- RES 2: 114-10 High Apr 7 (cont) and a key resistance
- RES 1: 114-02 High Oct 17
- PRICE: 113-21 @ 16:01 BST Oct 22
- SUP 1: 113-03+ 20-day EMA
- SUP 2: 112-30 Low Oct 13
- SUP 3: 112-22 50-day EMA
- SUP 4: 112-06 Low Sep 25 and a reversal trigger
Bullish conditions in Treasuries remain intact. The recent breach of key resistance at 113-29, the Sep 11 high, confirms a resumption of the medium-term uptrend. Moving average studies are in a bull-mode position and this set-up highlights a dominant uptrend. Sights are on 114-10, the Apr 7 high (cont) and the next key resistance. Firm support lies at 11303+, the 20-day EMA.
OPTIONS: Larger FX Option Pipeline
Oct-22 15:13
- EUR/USD: Oct24 $1.1500-20(E1.2bln), $1.1635-50(E1.1bln); Oct27 $1.1520-35(E1.2bln), $1.1620-40(E1.1bln), $1.1670-80(E1.1bln), $1.1700-10(E1.1bln)
- USD/JPY: Oct24 Y150.00($2.0bln), Y151.00-20($1.4bln)
- AUD/USD: Oct24 $0.6450(A$1.6bln); Oct27 $0.6490(A$1.8bln)
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Mar-27 20:13
