ECB: Schnabel Provides Unsurprisingly Hawkish Views On Inflation

ERH6 98.25c sold at 2.5 in 8k vs 2RH6 97.93c bought for 9.5 in 8k.

More large downside Option in Aston Martin.

• AML (19th June) 46p, bought for 3 in ~21.7k

Last Week saw: 

• ALM (19th Dec) 68/58ps, bought for 4.5 in 100k.

• Treasury futures have modestly pulled back off highs seen at Friday’s close after President Trump threatened new 100% tariffs on China and the imposition of its own export controls on “any and all critical software” on Nov 1 following China’s earlier export curbs on its rare earth metals.
• The threats were subsequently somewhat downplayed over the weekend, prompting this paring of moves, but Treasuries remain firmer on net.
• Cash markets are closed today for the Columbus Day holiday but with a full session for Globex.
• The holiday likely limits volumes later on and Trump flies back from the Middle East. Focus will be on any further US-China headlines plus a mention for Philly Fed’s Paulson, albeit overshadowed by Powell’s NABE appearance tomorrow.
• TYZ5 trades at 113-01+ (-03) on cumulative volumes of 265k, higher than some recent overnight sessions but still on the low side.
• Friday saw a high of 113-09, opening 113-12 (Sep 18 high) after which lies the bull trigger at 113-29 (Sep 11 high). Support meanwhile is seen at 112-14 (50-day EMA).  
• Data: None scheduled
• Fedspeak: Paulson (1255ET) – see STIR bullet
• No issuance
• Politics: Trump in Middle East Peace Ceremony, Egypt (0730ET), Trump departs Egypt en route to The White House (1000ET with travel pool).