BRAZIL: Import Tariffs On Food Products Scrapped, Q4 GDP, Feb Trade Due
* VP Alckmin has said that the government will eliminate tariffs on a series of basic food product...
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STIR: Mix Of Long Setting & Short Cover In Most SOFR Futures On Tuesday
OI data points to a mix of net long setting and short cover in most SOFR futures on Tuesday.
- Net OI swings were relatively limited, once again 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 |
| Daily OI Change In Packs |
SFRZ4 | 1,073,967 | 1,082,060 | -8,093 | Whites | -3,188 |
SFRH5 | 1,227,372 | 1,215,014 | +12,358 | Reds | -13,237 |
SFRM5 | 1,081,899 | 1,093,284 | -11,385 | Greens | +17,150 |
SFRU5 | 779,484 | 775,552 | +3,932 | Blues | +4,574 |
SFRZ5 | 944,129 | 942,862 | +1,267 |
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SFRH6 | 672,754 | 671,349 | +1,405 |
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SFRM6 | 625,125 | 640,630 | -15,505 |
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SFRU6 | 590,125 | 590,529 | -404 |
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SFRZ6 | 677,002 | 666,455 | +10,547 |
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SFRH7 | 476,379 | 472,299 | +4,080 |
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SFRM7 | 411,859 | 406,431 | +5,428 |
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SFRU7 | 284,237 | 287,142 | -2,905 |
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SFRZ7 | 270,188 | 267,479 | +2,709 |
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SFRH8 | 216,082 | 216,838 | -756 |
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SFRM8 | 181,891 | 179,036 | +2,855 |
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SFRU8 | 119,874 | 120,108 | -234 |
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EU-BILL AUCTION PREVIEW: 3/6/12-Month EU-Bills
| 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
SX7E (21st Mar) 150/135ps 1x1.5, bought for 0.65 in 6k.
