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.
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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.
