OPTIONS: Sonia Leans To Upside, Euribor To Downside Wednesday
Jul-30 16:52
Wednesday's Europe rates/bond options flow included:
- ERZ5 98.12/98.06/98.00 put fly paper paid 0.5 (vs. 98.13) on 5K
- ERZ5 97.87 puts paper paid 1.0 on 18K
- SFIQ5 96.15/96.20cs, bought for 0.6 in 5k
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PIPELINE: Corporate Bond Update: $1.5B ABN Amro. $1B SoftBank Launched
Jun-30 16:51
- Date $MM Issuer (Priced *, Launch #)
- 06/30 $2.5B Venture Global Plaquemines 8.5NCL 6.5%a, 10.5NCL 6.75%a
- 06/30 $1.5B #ABN Amro $750M 3Y +50, $750M 3Y SOFR+75
- 06/30 $1B #SoftBank $500M 5Y +90, $500M 10Y +110
- 06/30 $Benchmark SMFG 6NC5 +87, 6NC5 SOFR+119, 8NC7 +97, 11NC10 +102, 21NC20 +102
- 06/30 $Benchmark Niagara Mohawk Power +5Y +85, 30Y +120
US TSY FUTURES: Extending Highs - Flow not Headline Driven
Jun-30 16:49
- US Tsys testing early overnight highs -- Large 10Y buyer
- Potential Block trade imminent as some 27,000 TYU5 trade from 111-31 to 112-01.5 in the last couple minutes
- curves bull flatten: 2s10s -1.654 at 51.032, 5s30s -1.251 at 99.093
UK: MNI Gilt Week Ahead - 30 June, 2025
Jun-30 16:46
- We will hear from two MPC members this week, but possibly of even more relevance for the medium-term UK outlook at present is the vote on the second reading of the welfare reform bill on Tuesday.
- We look at this and the market implications in more detail.
- We also look at what to watch in appearances from Governor Bailey and external MPC member Alan Taylor.
- We preview this week's upcoming gilt auctions.
