OPTIONS: Sizeable Ratio Trades And Condor Of Note In Rates
Jul-10 16:52
Thursday's Europe rates/bond options flow included:
- RXQ5 129.50/128.50ps, bought for 28.5 in 3.5k (follows Wednesday's RXQ5 128.5/127.5ps, bought for 10.5 up to 11.5 in 5k)
- ERU5 98.0625/97.9375ps 1x2 vs ERZ5 98.0625/97.9375ps 1x2, bought the Dec for -0.75 in 20k
- ERZ5 98.25/98.37/98.50/98.62c condor, bought for 2.75 in 25k total
- SFIH6 96.50/97.00/97.50 call fly vs 96.15 put, bought for 3.5 in 6.5k
- SFIH6 96.60/97.00 1x2 call spread vs 96.00 put pays 1 for the call spread in 4k (vs 19)
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FED: US TSY 3Y AUCTION: NON-COMP BIDS $143 MLN FROM $58.000 BLN TOTAL
Jun-10 16:45
- US TSY 3Y AUCTION: NON-COMP BIDS $143 MLN FROM $58.000 BLN TOTAL
PIPELINE: Corporate Bond Update: $3B Lloyds 3Pt Launched
Jun-10 16:41
- Date $MM Issuer (Priced *, Launch #)
- 06/10 $3B #Lloyds $1.25B 4NC3 +83, $500M 4NC3 SOFR+106, $1.25B 11NC10 +160
- 06/10 $750M Colonial Pipeline 8NC3
- 06/10 $500M PVH Corp WNG 5Y +160a
- 06/10 $500M #CAF WNG Perp5.5 6.75%
- 06/10 $500M #Experian Finance 10Y +90
- 06/10 $Benchmark Omega Healthcare 5Y +132
- 06/10 $Benchmark ANZ 3Y +38, 3Y SOFR+62, 11NC10 +135
- 06/10 $Benchmark M&T 3NC2 +105a, 3NC2 SOFR, 6NC5 +135a
- 06/10 $Benchmark Citadel Securities investor calls
- 06/10 $Benchmark Bahamas investor calls
US TSYS/SUPPLY: Preview 3Y Auction
Jun-10 16:28
Tsy futures off midmorning highs ahead of the $58B 3Y note auction (91282CNH0) at 1300ET, WI is currently at 3.975%, 15.1bp cheap to last month's stop. Auction results will be available shortly after the competitive auctions closes at 1300ET.
- May auction recap: Treasury futures pared losses slightly after $58B 3Y note auction (91282CND9) stopped through, drawing 3.824% high yield vs. 3.826% WI; 2.56x bid-to-cover vs. 2.47x prior.
- Peripheral stats see indirect take-up retreats to 62.37% vs. 73.03% prior; direct bidder take-up rises to 23.71% from 6.24% prior; primary dealer take-up 13.92% vs. 20.73% prior.
