EGB OPTIONS: Schatz put spread
Jun-27 07:10
DUQ4 105.50/105.20ps 1x2, bought for 6 in 2k.
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GILTS: Gapped higher on the Open
May-28 07:08
- Gilt gap higher on the open, and pretty much 100% of the June volume is spread related, September will now also be front Month as of today.
- For the outright contract, with Bund edging slowly higher, albeit in very light volumes ahead of the European CPIs this week, starting Tomorrow, with the German Regionals/National CPIs, resistance in September Gilt will be seen at 97.44 initially.
USDCAD TECHS: Support Is Intact But Remains Exposed
May-28 06:58
- RES 4: 1.3977 High Oct 13 ‘23 and a key M/T resistance
- RES 3: 1.3899 High Nov 1 and a key resistance
- RES 2: 1.3846/55 High Apr 16 and the bull trigger / High Nov 10 2023
- RES 1: 1.3748/85 61.8% of the Apr 16 - Mar 16 bear leg / High Apr 30
- PRICE: 1.3628 @ 07:55 BST May 28
- SUP 1: 1.3590 Low May 16 and the bear trigger
- SUP 2: 1.3547 Low Apr 9
- SUP 3: 1.3512 50.0% retracement of the Dec 27 - Apr 16 bull cycle
- SUP 4: 1.3478 Low Apr 4
A bullish trend condition in USDCAD remains intact and for now a short-term pullback is considered corrective. Key supports at 1.3642, the 50-day EMA, and 1.3610, the May 3 low, have recently been pierced. A clear break of both levels is required to threaten the bullish theme and this would signal scope for a deeper retracement. For bulls, a resumption of gains would refocus attention on the bull trigger at 1.3846, the Apr 16 high.
BONDS: Roll pace for Treasuries and Gilt
May-28 06:46
Bond futures rolls should continue to dominate in Treasuries and Gilt.
First notice for the US is the 31th, while Gilt is the 30th.
Pace:
- Ultra Bond: 51%.
- Tbond: 51%.
- Ultra 10: 48%.
- Tnotes: 52%.
- FVA: 53%.
- TUA: 50%
- Gilt: 58%.
