OPTIONS: Pre-ECB Unwinds, Ratio Spreads Wednesday
Jun-04 16:52
Wednesday's Europe rates/bond options flow included:
- ERM5 98.00c, sold at 2.5 in 4k.
- ERU5 98.12/98.00ps 1x2, sold the 1 at 2.75 in 5k (downside unwind).
- ERU5 98.375/98.50 1x2 call spread paper pays 0.375 synthetic on 10K.
- 0RM5 98.25p, bought for 3.7 in 5k.
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PIPELINE: Corporate Bond Update: Guidance Update
May-05 16:49
Expect corporate supply to issue soon after this afternoon's Tsy 3Y auction at the top of the hour.
- Date $MM Issuer (Priced *, Launch #)
- 05/05 $1.3B DTE Electric $300M 2Y +45, $500M 10Y +93, $500M 30Y +103
- 05/05 $Benchmark Apple Inc 3Y +25, 5Y +30, 7Y +40, 10Y +50
- 05/05 $Benchmark Comcast 7Y +85, 10Y +100, 30Y +122
- 05/05 $Benchmark General Motors 3Y +155, 5Y +170, 10Y +195
- 05/05 $Benchmark American Int Group 5Y +95, 10Y +112
- 05/05 $Benchmark Prologis +5Y +85, 10Y +103
- 05/05 $Benchmark ADP 7Y +63
US TSYS/SUPPLY: WI 3Y Holding Steady
May-05 16:45
- WI holding steady ahead of the $58B 3Y note auction (91282CND9) cut-off at 1300ET.
- 3Y WI is currently at 3.825%, 4.1bp cheap to last month's tail: 3.784% high yield vs. 3.760% WI
FED: US TSY 3Y AUCTION: NON-COMP BIDS $111 MLN FROM $58.000 BLN TOTAL
May-05 16:45
- US TSY 3Y AUCTION: NON-COMP BIDS $111 MLN FROM $58.000 BLN TOTAL
