SCANDIS: NOKSEK Testing Initial Support; Heavy Norway Calendar Next Week

Sep-05 14:19

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NOKSEK is testing initial support at 0.9327 (August 19 low), now down 0.5% on the session. A clear b...

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PIPELINE: Corporate Bond Update: Expanded List

Aug-06 14:09
  • Date $MM Issuer (Priced *, Launch #)
  • 08/06 $Benchmark BMW US 2Y +80a, 2Y SOFR, 5Y +105a, 10Y +125a
  • 08/06 $Benchmark Oneok 7Y +130a, 10Y +140a, 30Y +175a
  • 08/06 $700M Match Group 8NC3
  • 08/06 $500M PPL Electric WNG 30Y +105
  • 08/06 $Benchmark Extra Space Storage +7Y +130a
  • 08/06 $Benchmark American Water Capital 30Y +120a
  • 08/06 $Benchmark PetSmart 7NC3, 8NC3 investor calls

SOFR OPTIONS: Morning Update: Continued Call Buying, Underlying Pares Losses

Aug-06 14:04

Underlying SOFR futures paring losses, White pack mostly steady now. In turn, projected rate cut pricing gaining vs. morning (*) levels: Sep'25 at -23.4bp (-22.6bp), Oct'25 at -38.9bp (-38.4bp), Dec'25 at -58.8bp (-58.3bp), Jan'26 at -70.4bp (-68.9bp).

  • +3,000 SFRV5 96.31/96.43/96.50 broken call flys, 2.62 ref 96.255
  • +5,000 SFRU5 96.12/96.25 call spds, 1.25 ref 95.935
  • -2,000 SFRZ5 96.00/96.68 strangles, 11.5 ref 96.25
  • +4,000 SFRX5 96.25/96.37/96.50/96.62 call condors .25 over SFRZ5 95.62/95.857 put spd
  • Update, over +10,000 SFRZ5 96.56/96.68/96.75 1x3x2 broken call flys, 0.5

TARIFFS: Trump to Impose Additional 25% Tariff on India

Aug-06 14:00

President Donald Trump has signed an Executive Order imposing an additional 25% tariff on India in response to its continued purchase of Russian oil. Full White House statement here.

  • USDINR 1-month NDFs spike higher on the headlines, but remain below the overnight highs for now.