EURIBOR OPTIONS: Rate hike play
Apr-08 10:37
0RM2 98.50/98.25ps, bought for 5.5 in 14k
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GREECE T-BILL AUCTION RESULTS: 52-week GTBs
Mar-09 10:29
| Type | 52-week GTB |
| Maturity | Mar 10, 2023 |
| Amount | E625mln |
| Target | E625mln |
| Previous | E375mln |
| Avg yield | -0.2300% |
| Previous | -0.4000% |
| Bid-to-cover | 1.38x |
| Previous | 2.46x |
| Previous date | Dec 08, 2021 |
EQUITIES: Bank stock option
Mar-09 10:23
SX7E 17th June 105/112.5cs, bought for 0.65 in 20k
BOND SUMMARY: Temporary Respite For Risk
Mar-09 10:21
Sovereign fixed income has sold off across the board alongside a rally in equities, building on yesterday's risk respite. At this stage market moves seem to reflect an unwind from the intense risk-off trade following the Russian invasion, rather than reflecting a material improvement in the outlook for the Ukrainian crisis.
- Russia and Ukraine have agreed to a temporary ceasefire in order to allow civilians to evacuate through the humanitarian corridors. However, there is no sign of Moscow ending hostilities and progress on bilateral talks remains elusive.
- USTs have sold off and the curve has bear flattened. Yields are now up 4-6bp, while TZM2 trades at 126.27, towards the bottom of the day's range.
- In Europe, gilts and bunds lead the sell off.
- Gilt cash yields have pushed up 4-7bp, while bund yields are up 6-7bp.
- The oil rally has lost some momentum with Brent crude trading down to USD125.72/b having come within a hair's breadth of USD140/b intraday on Monday. The US ban on oil imports will keep prices elevated and has further supported market-based measures of inflation expectations.
