FRANCE AUCTION RESULTS: OATi / OATei
Oct-20 10:00
| 0.10% Mar-36 OATi | 0.10% Jul-36 OATei | 0.10% Jul-53 OATei | |
| ISIN | FR0013524014 | FR0013327491 | FR0014008181 |
| Amount | E509mln | E646mln | E345mln |
| Previous | E270mln | E531mln | E178mln |
| Avg yield | 0.61% | 0.76% | 0.61% |
| Previous | 0.21% | -1.19% | 0.12% |
| Bid-to-cover | 2.51x | 2.31x | 2.43x |
| Previous | 3.23x | 2.28x | 4.74x |
| Price | 93.52 | 91.39 | 85.62 |
| Previous | 98.50 | 120.36 | 99.38 |
| Pre-auction mid | 93.215 | 90.876 | 84.603 |
| Previous | 98.305 | 120.149 | 98.262 |
| Previous date | 16-Jun-22 | 17-Mar-22 | 15-Sep-22 |
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EGB OPTIONS: Large Schatz downside
Sep-20 09:57
DUX2 107.10/106.60ps vs 107.7/108.10cs, bought the ps for 8.75 in 17.5k (adding)
USD: NZDUSD is through support
Sep-20 09:51
- USD remains on the front foot, as Equities continue to slide.
- NZDUSD is through support, and further downside momentum, opens to the April 2020 low, at 0.5844.
BONDS: Yields spike to decade high
Sep-20 09:45
- EGBs and Bund resumed their moves lower, after the big beat in German PPI set out the tone.
- This was combined by the Riksbank hiking their rates by 100bps.
- Bund now targets the June peak and highest print since January 2014, at 1.928%.This would equate to 140.84.
- Next support for the German 2yr Schatz, is at 1.721%, the June 2011 high.
- Reference 107.18 = 107.13.
- German curve fades the earlier bid, and bear flattens.
- Biggest move in peripheral is in the Greek/Bund spread widening by 14.4bps at one point, now by 11bps, following Moodys decision not to upgrade Greece last Friday.
- Gilt trades inline with Germany translating in a flat Gilt/Bund spread for the early session.Treasuries are getting dragged lower by Europe, but still lag, pushing the Tnote/Bund spread 5bps tighter but within the September range.
- US 10yr Real Yield rose to its highest level since 2011.While US 2yr Yield is highest since December 2007.
- Looking ahead, there's no tier 1 data for the session, with most investors waiting on the FOMC tomorrow.
- Speakers, only sees Lagarde left for the afternoon session.
