EURIBOR: Some broader demand in EUR Rates and EGBs
Jun-13 12:24
- Front Euribor (ERM5) was bought for 97.99 in 8k earlier, bid/offer sizes are still on the large side 42kx55k.
- The Volume is above averages given the higher fix Earlier and Rate Desks are gearing up for Expiry on Monday.
- There's also some broader demand in EGBs, but nothing too big in terms of outright Volumes, OAT has been bought in 2.1k, and BTP 2k, all cumulative volumes.
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STIR FUTURES: BLOCK: Dec'25 SOFR Sale
May-14 12:24
- Total 12,000 SFRZ5 96.18, post time bid (and current session low) at 0821-0820ET. Contract holds steady at 96.18 last
PIPELINE: Early Corporate Bond Roundup: SocGen, Woodside on Tap
May-14 12:18
- Date $MM Issuer (Priced *, Launch #)
- 05/14 $1B AIIB WNG 10Y SOFR+61
- 05/14 $500M Bombardier 8NC3
- 05/14 $Benchmark JICA 5Y SOFR+67a
- 05/14 $Benchmark Societe Generale 4NC3 +150a, 6NC5 +165a
- 05/12 $Benchmark Woodside Finance 3Y +155a, 5Y +170a, 7Y +185a, 10Y +200a
- $10.35B Priced Tuesday, $29.375B/wk
US TSY FUTURES: Paring Gains Ahead NY Open
May-14 12:16
- Treasury futures retreating ahead of the NY open, near early overnight lows at the moment, no obvious headline driver or Block flow, EGBs not following suit.
- Tsy Jun'25 10Y futures currently trades at 110-01.5 (+2.5) vs 110-01 low -- inside technicals: initial support at 109-30 (May 13 low); resistance above at 111-01 (20-day EMA).
- Curves steeper: 2s10s +.514 at 46.582, 5s30s +0.508 at 81.165
- Cross asset: Stocks trading mildly higher (SPX eminis +13 at 5917.50), Gold retreating to 3213.8, Bbg US$ index inching off lows at 1228.37 (-2.92) vs. 1224.24 low.
