OPTIONS: Larger FX Option Pipeline
Nov-21 17:55
- EUR/USD: Nov25 $1.0600(E1.0bln), $1.0650(E1.0bln); Nov26 $1.0500(E1.2bln); Nov27 $1.0500(E2.0bln), $1.0600-10(E3.7bln)
- USD/JPY: Nov27 Y153.00($2.5bln)
- EUR/JPY: Nov27 Y167.30(E1.1bln)
- NZD/USD: Nov25 $0.6000(N$1.7bln)
- USD/CNY: Nov27 Cny7.2000($1.4bln), Cny7.2480-00($1.1bln)
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LOOK AHEAD: Wednesday Data Calendar: Exist Home Sales, Fed Speak, 20Y R/O Sale
Oct-22 17:51
- US Data/Speaker Calendar (prior, estimate)
- Oct-23 0700 MBA Mortgage Applications (-17.0%, --)
- Oct-23 0900 Philly Fed Bowman opening remarks
- Oct-23 1000 Existing Home Sales (3.86M, 3.89M)
- Oct-23 1000 Existing Home Sales MoM (-2.5%, 0.7%)
- Oct-23 1130 US Tsy $64B 17W bill auction
- Oct-23 1200 Richmond Fed Barkin community college conf
- Oct-23 1300 US Tsy $13B 20Y Bond auction re-open
- Oct-23 1400 Federal Reserve Beige Book
ECB: Villeroy Comments on Flexibility on Rates to Not Fall Behind Curve
Oct-22 17:50
- The European Central Bank must be agile with further interest-rate cuts to avoid the risk of acting too slowly, according to Governing Council member Francois Villeroy de Galhau.
- Mjaor headlines from ECB’s Villeroy in his speech in NY include:
- “There is a risk that inflation undershoots 2% target, especially if growth weak”
- “Inflation could be at target in early 2025”
- “There is significant downside risk to inflation and growth”
- “ECB not behind the curve but risk of cutting rates too late bigger than cutting early”
- “No reason for rates to stay restrictive in 2025” (Reuters)
- “Too early to say where ECB terminal rate may be”
- “QE tool to affect stance, transmission, not liquidity” (BBG)
US TSY FUTURES: BLOCK: Dec'24 2Y Buy
Oct-22 17:44
+5,000 TUZ4 103-08, post time offer at 1334:56ET, DV01 $194,000. The 2Y contract trades 103-08.38 last (-.62), helping curves bounce off flatter levels: 2s10s +.562 at 16.739 last vs. 14.197 low.
