OPTIONS: Expiries for Mar14 NY cut 1000ET (Source DTCC)
Mar-13 15:37
* EUR/USD: $1.0750(E808mln), $1.0850-55(E550mln) * USD/JPY: Y146.00($1.0bln), Y149.50-55($801mln), Y...
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EGBS: Little Reprieve From Syndication Pricing, BTP/Bund Widens 2bps
Feb-11 15:36
The pricing of today’s 15-year BTP and dual-tranche EU-bond syndications provided little reprieve for major EGB futures. BTPs have followed Bunds lower through the day (-83 ticks at 119.90), having tested support at the 20-day EMA (119.87).
- The 10-year BTP/Bund spread has widened 2bps to ~111bps, even as European equities extend higher. Today’s syndication saw books in excess of E133bln for the E13bln sold. A reminder that 3/7-year supply is also due on Thursday.
- OATs lightly underperform semi-core peers following today’s 30-year syndication mandate. We thought the syndication would come in w/c 24 Feb, but had flagged risks of a transaction this week. We pencil in a E8-10bln transaction size.
- Note that the 10-year OAT/Bund spread screens at 78bps (1bp wider today) owing to a BBG OAT benchmark change.
GILT AUCTION PREVIEW: On offer next week
Feb-11 15:30
The DMO has announced it will be looking forward to sell GBP1.75bln of the 4.00% Oct-63 Gilt (ISIN: GB00BMF9LF76) at its auction next Tuesday, February 18.
EUR: FX Exchange traded Option
Feb-11 15:30
FX Exchange traded longer dated Option, traded in multiple clips.
- EURUSD (5th Dec) 1.0600c, bought for 0.2450 in ~3.3k.
Open Interest in that strike is at 14.18k.
