USD: USDJPY tests next MNI resistance

Apr-10 13:50
  • USDJPY now tests the next immediate resistance right here at 152.66 1.236 proj of the Feb 1 - 13 - Mar 8 price swing.
  • A clear break through that level will open to the next Psychological 153.00 level.

Historical bullets

EGB OPTIONS: Schatz upside structures

Mar-11 13:48
  • DUJ4 106.30/106.40cs, bought for 1 in 7k.
  • DUJ4 105.80/106.00/106.20c ladder, bought for 6 in 3.5k.

US TSYS: BofA: Conviction In Cuts Supports Real Money Bid

Mar-11 13:45

Bank of America write “February stripping activity suggests a notable bid from pensions alongside a continued improvement in funding status.”

  • “Japanese pensions also took part in the buying activity and dominated the otherwise weak picture for foreign flows.”
  • “Banks appear to be slowly adding to Tsy holdings.”
  • “Futures open interest suggests more shorts covered vs new longs created. We see still some shorts outstanding that are vulnerable, but most positions are long.”
  • “CFTC data continues to show a reduction in scale of the basis position. We think in part this may be driven by asset managers pivoting duration risk from futures to credit.”

BUNDS: Testing new intraday lows

Mar-11 13:40
  • Bund sees further downside continuation, with the latest leg helped by a 5k sold in Schatz and 4.7k in Bobl.
  • Bund support is still seen at the 133.27/133.20 area.
  • Support in Schatz comes at 105.805, Friday's low.