DIESEL: Russian Diesel Exports to Turkey Rebound
Dec-10 13:06
Russian diesel is still finding buyers despite US sanctions, according to Energy Aspects.
- Weekly arrivals surged last week, led by a sharp rebound into Turkey to the highest level since January.
- Flows have quickly recovered after a dip in late November suggesting a strong signal that buyer behaviour is already normalising.
Source: Energy Aspects
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
STIR: Repo Reference Rates
Nov-10 13:03
- Secured Overnight Financing Rate (SOFR): 3.93% (+0.01), volume: $3.069T
- Broad General Collateral Rate (BGCR): 3.89% (+0.00), volume: $1.216T
- Tri-Party General Collateral Rate (TCR): 3.89% (+0.00), volume: $1.192T
- (rate, volume levels reflect prior session)
BONDS: Societe Generale Recommend Underweights In OLOs
Nov-10 13:01
he extension of Belgian Budget discussions and questions over the PM’s future dove OLO underperformance vs. semi-core EGB peers last week, reintroducing another area of medium-term fiscal risk to the fore in the Eurozone.
- Societe Generale note that while they were “cautious on Belgium, we turned tactically long vs. OATs during periods of political instability in France”.
- The ongoing Belgian Budget deadlock means that they remain cautious “despite no OLO supply being expected before year-end (except for two ORIs) and the seasonal tightening pattern in November”.
- As a result, Societe Generale prefer longs in RAGBs, RFGBs, or DSLs vs OLOs, particularly in 10s.
SONIA OPTIONS: 0NZ5 96.70/96.90 Call Spread Sold
Nov-10 12:39
0NZ5 96.70/96.90 call spread (vs 62+) 22K given at 3.75.
