CZECHIA: Michl Gives No Timeline for Potential Rate Change
Dec-18 14:28
Highlights from Governor Michl's press conference below (via BBG): * Gives no timeframe for potenti...
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EQUITIES: US Cash Opening Calls
Nov-18 14:25
US Cash Opening calls, NDX should be close but above Yesterday's low.
- Fair value opens: SPX: 6,643.0 (-0.4%); DJIA: 46,199 (-0.8%/-391pts); NDX: 24,659.2 (-0.6%).
SONIA OPTIONS: Call Fly buyer
Nov-18 14:25
SFIF6 96.55/96.70/96.80c fly, bought for 2 in 3k.
US SWAPS: Natixis Recommend 3s30s Swap Spread Curve Flatteners
Nov-18 14:15
Natixis recommend initiating 3s30s swap spread curve flatteners.
- They note that H225 has seen “a large move wider across the curve for various reasons, including but not limited to deregulation, a potential change in the Fed’s target rate, a quicker end to QT, significant rate locking flows and potential for future Fed TOMO operations during periods of repo tightness”
- While they think “many of the themes that have pushed spreads here are either priced in or overly priced” they suggest that “there is nothing near term that will disprove any of those themes.”.
- That said, Natixis write “while we think front end spreads can remain bid, our overall curve views on cash bonds has us bearish longer term spreads, and heading into 2026 would prefer to express this via a swap spread flattener”.
