UK T-BILL AUCTION RESULTS: 1/3/6-month UKTBs
Mar-07 11:08
| 1-month | 3-month | 6-month | |
| Maturity | Apr 7, 2025 | Jun 9, 2025 | Sep 8, 2025 |
| Amount | GBP0.5bln | GBP1.5bln | GBP3.0bln |
| Previous | GBP0.5bln | GBP1.5bln | GBP3.0bln |
| Avg yield | 4.3358% | 4.4350% | 4.4295% |
| Previous | 4.3535% | 4.4469% | 4.4327% |
| Bid-to-cover | 3.05x | 3.03x | 3.45x |
| Previous | 2.85x | 3.19x | 4.07x |
| Next week | GBP0.5bln | GBP2.5bln | GBP3.0bln |
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EU-BILL AUCTION PREVIEW: 3/6/12-Month EU-Bills
Feb-05 11:07
| Type | 3-month EU-bill | 6-month EU-bill | 12-month EU-bill |
| Maturity | May 9, 2025 | Aug 8, 2025 | Feb 6, 2026 |
| Amount | E1.35bln | E1.371bln | E1.472bln |
| Target | E1.5bln | E1.5bln | E1.5bln |
| Previous | E1.24bln | E1.35bln | E950mln |
| Avg yield | 2.487% | 2.350% | 2.190% |
| Previous | 2.615% | 2.505% | 2.345% |
| Bid-to-cover | 1.96x | 2.32x | 2.14x |
| Previous | 1.45x | 1.73x | 2.94x |
| Previous date | Jan 22, 2025 | Jan 22, 2025 | Jan 22, 2025 |
EQUITIES: EU Bank put spread
Feb-05 11:04
SX7E (21st Mar) 150/135ps 1x1.5, bought for 0.65 in 6k.
US TSY FUTURES: Limited Net Positioning Swings On Tuesday, Headline Risk Noted
Feb-05 11:02
OI data points to a mix of net long setting in the belly/intermediates (FV, TY & UXY) and net short cover in the wings (TU, US & WN) on Tuesday, with a slight bias towards the latter in curve-wide DV01 terms.
- Note that net OI swings were limited, pointing to a lack of any real conviction, with traders wary of tariff headlines and related risk of two-way price swings.
| 04-Feb-25 | 03-Feb-25 | Daily OI Change | OI DV01 Equivalent Change ($) |
TU | 4,103,507 | 4,104,521 | -1,014 | -37,751 |
FV | 6,399,106 | 6,395,200 | +3,906 | +162,099 |
TY | 4,879,718 | 4,855,543 | +24,175 | +1,554,211 |
UXY | 2,311,523 | 2,311,498 | +25 | +2,198 |
US | 1,953,818 | 1,966,380 | -12,562 | -1,591,857 |
WN | 1,791,740 | 1,796,216 | -4,476 | -859,168 |
|
| Total | +10,054 | -770,269 |
