EM LATAM CREDIT: Steel Tariffs of 25% Still Looming Amid Trade Negotiations
May-22 16:54
"Sheinbaum Says She Talked Steel Tariffs in Latest Trump Call" - BBG
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OPTIONS: Large Euro Rate Upside Notable In Return From Holiday
Apr-22 16:52
Tuesday's Europe rates/bond options flow included:
- RXK5 129/130.50cs, sold at 146 in 12.5k
- ERM5 97.8125/97.9375cs, sold at 9.75 in 20k
- ERM5 98.12/98.25 call spread paper paid 1.25 on 5K
- ERU5 98.375/98.50/98.625c fly, bought for 2.5 in 10k
- ERZ5 98.3125/98.0625 put spread, paper sells for 8 in 15k
- ERZ5 98.3125p, sold at 14.5 down to 14 in 8k.
- ERZ5 98.1875/98.4375/98.6875/98.9375c condor, bought for 10 and 10.5 in 25k total
- ERZ5 98.50/62 call spread vs. 98.31/18 put spread paper paid 0.5 for the put spread on 13K
- ERZ5 98.75/99.00/99.25c fly, bought for 2.25 in 8k
- ERH6 98.4375/98.125 1x2 put spread, paper pays 2.25 in 9.5k
FED: US TSY 2Y AUCTION: NON-COMP BIDS $260 MLN FROM $69.000 BLN TOTAL
Apr-22 16:45
- US TSY 2Y AUCTION: NON-COMP BIDS $260 MLN FROM $69.000 BLN TOTAL
US TSYS/SUPPLY: Preview: 2Y Note Auction
Apr-22 16:33
Tsy futures are just off late-morning highs (TYM5 currently +1.5 at 110-27.5 vs. 110-30 high) ahead of the $69B 2Y note auction (91282CMY4) at 1300ET, WI is currently running at 3.787%, 19.7bp rich to last month's in-line sale.
- March auction recap: Tsy futures remain bid (TYM5 +8 at 110-25.5) after the latest $69B 2Y note auction (91282CMV0) came out in-line: 3.984% high yield vs. 3.985% WI; 2.66x bid-to-cover vs. 2.56x prior.
- Peripheral stats: Indirect take-up receded to 75.77% from 85.49% prior, directs climbed to 13.58% vs. 7.64% prior, primary dealer take-up 10.65% vs. 6.87% prior.
