US DATA: NY Fed Services Activity Hits Five-Year Low But Stronger Expectations
The NY Fed's Business Leaders Survey of services firms had mixed implications, with the current gene...
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MONTH-END EXTENSIONS: CIBC Flag "Decent" Month-End Extension For FTSE CAD Bonds
CIBC write “the FTSE Canada Universe Bond Index will experience a decent extension of +0.060yrs on February 1 (technically the 2 since February 1 falls on a weekend this year). That is mainly the result of Canada Feb 1/27 (C$24.2bln) rolling out of the index. The short segment will extend by +0.041yrs for that same reason. Meanwhile, modified durations of the mid and long segments will remain basically unchanged that day. Coupon payments totalling approximately C$1.63bln between January 31 to February 2 will have minimal impact to the duration change in the Universe Index”.
FRANCE T-BILL AUCTION RESULTS: 14/19/27/49-week BTFs
| Type | 14-week BTF | 19-week BTF | 27-week BTF | 49-week BTF |
| Maturity | Apr 29, 2026 | Jun 3, 2026 | Jul 29, 2026 | Dec 30, 2026 |
| Amount | E3.8bln | E400mln | E2.1bln | E1.9bln |
| Target | E3.4-3.8bln | E0-0.4bln | E1.7-2.1bln | E1.5-1.9bln |
| Previous | E3.798bln | E2.1bln | E2bln | |
| Avg yield | 2.019% | 2.000% | 2.048% | 2.085% |
| Previous | 2.026% | 2.068% | 2.098% | |
| Bid-to-cover | 3.37x | 6.46x | 5.25x | 4.24x |
| Previous | 3.53x | 4.62x | 4.66x | |
| Previous date | Jan 12, 2026 | Sep 01, 2025 | Jan 12, 2026 | Jan 12, 2026 |
EURIBOR OPTIONS: Mid Curve Call Fly
0RM6 97.81/98.00/98.18c fly, sold at 3.5 in 3k.
