PLN: Zloty Holds Steady As Market Weighs NBP Outlook
Oct-30 10:14
EUR/PLN trades flat at 4.2417 with little of note on the local docket today. From a technical perspe...
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US TSY FUTURES: Mix Of Short Cover & Long Setting Seen On Monday
Sep-30 10:10
OI data points to a mix of net short cover (TU, FV & TY) and long setting (UXY, US & WN) as Tsy futures rallied on Monday.
- The curve-wide bias was tilted towards net long setting (in DV01 terms), owing to the ~$4.2mln DV01 equivalent of net long setting in WN futures.
| 29-Sep-25 | 26-Sep-25 | Daily OI Change | OI DV01 Equivalent Change ($) |
TU | 4,545,907 | 4,558,432 | -12,525 | -424,890 |
FV | 6,684,536 | 6,729,775 | -45,239 | -1,985,770 |
TY | 5,435,162 | 5,452,089 | -16,927 | -1,104,028 |
UXY | 2,429,790 | 2,413,949 | +15,841 | +1,386,896 |
US | 1,818,387 | 1,805,689 | +12,698 | +1,802,161 |
WN | 2,026,338 | 2,004,016 | +22,322 | +4,178,293 |
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| Total | -23,830 | +3,852,663 |
EGB FUNDING UPDATE: Spain cuts net debt issuance target from E60bln to E55bln
Sep-30 10:09
- Earlier this morning, Tesoro Publico announced that it was cutting its 2025 net issuance target by E5bln to E55bln due to "strong economic growth" in particular a strong labour market "with record numbers of taxpayers, which has resulted in lower financing needs."
- The Treasury notes that the stronger finances are in spite of the costs of Storm Dana and increased defence spending.
- 2025's net issuance target is now the same as 2024's.
OPTIONS: Expiries for Sep30 NY cut 1000ET (Source DTCC)
Sep-30 10:08
- EUR/USD: $1.1600-05(E2.4bln), $1.1695-00(E1.8bln), $1.1725(E528mln), $1.1775(E715mln), $1.1800(E1.8bln), $1.1825-30(E850mln), $1.1850(E878mln)
- USD/JPY: Y148.00($827mln), Y149.00-15($755mln)
- AUD/USD: $0.6595-00(A$1.3bln)
- NZD/USD: $0.5785(N$1.0bln)
