OPTIONS: Mixed Trade Includes Sonia Upside Lean, Bund Upside Selling
Jun-03 16:52
Wednesday's Europe rates/bond options flow included: * RXN6 128/129.5 call spread sold at 4 in 2.5k...
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US TSY FUTURES: BLOCK: Jun'26 2Y/5Y Steepener
May-04 16:36
Steepener crossed at 1223:45ET:
- +6,600 TUM6 103-12.5 post time bid, DV01 $248,300 vs.
- -5,850 FVM6 107-14.75, sell through 107-15.5 post time bid, DV01 $248,700
US TSYS: Mild Risk-Off Unwinds
May-04 16:33
- Mild risk-off unwinds as crude pares gains (WTI $105.54/bbl vs. $106.60/bbl recent session high) following presser by CENTCOM Adm Cooper discussing this morning's events:
- US FORCES REPELLED MISSILE, DRONE ATTACKS AT VESSELS: COOPER ... CENTCOM HELPED TWO US-FLAGGED VESSELS THROUGH HORMUZ: COOPER, Bbg
- Tsys off lows: TYM6 110-04.5 (-16) vs. 110-00.5, Bbg US$ off recent highs: BBDXY at 1195.90 +2.52, vs. 1196.08 high.
SOFR OPTIONS: Dec'26 SOFR Put Spread Buy
May-04 16:22
- +25,000 SFRZ6 96.12/96.37 put spds, 11.75
- Projected rate pricing slowly extends to hawk vs. late Friday lvls (*): Jun'26 at -0.5bp (-1.9bp), Jul'26 at -0.6bp (-2.9bp), Sep'26 at +1.5bp (-2.9bp), Oct'26 at +5.4bp (-3.4bp), Dec'26 10.3bp (-1.3bp). Note: April 2027 near fully pricing in 25bp rate HIKE.
