30Y WI has slipped to 5.036% ahead of the $25B 30Y auction (912810UU0) cutoff at 1300ET. Latest read 16bp cheap to last month's stop: 4.876% high yield vs. 4.871% WI.
Treasury futures have rebounded from recent session lows, USM6 currently -4 at 112-05, curves steeper: 2s10s +1.564 at 48.509, 5s30s +1.391 at 91.049.
OPTIONS: Limited Flow Is Largely Sonia-Upside Related
May-13 16:52
Wednesday's Europe rates/bond options flow included:
SFIN6 95.95/96.00/96.05/96.10c condor, bought for half in 5k
SFIU6 96.10/15/20/25 call, paper pays 0.75 v 95.78 (2% delta) in 7k
SFIZ6 96.15/25/30/40 call condor, paper pays 1.25 for 8.88k
FED: US TSY 30Y BOND AUCTION: NON-COMP BIDS $62 MLN FROM $25.000 BLN TOTAL
May-13 16:45
US TSY 30Y BOND AUCTION: NON-COMP BIDS $62 MLN FROM $25.000 BLN TOTAL