EU FINANCIALS: Nationwide Bonds Priced
Apr-23 14:35
- Books > €5.3bn, only €0.2bn lower than at Final Spread.
- MS+185 -> 40bps in from IPT
- This is strong given the tightening from IPT but not altogether surprising given that our screen are showing bank tier 2 bonds on average c10bps tighter on the day.
- The Nwide 4.375% we referenced in our FV is now trading Z+167, we noted FV was 17bps wide of this. At the time that was c190bps, but currently it is 184bps
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STIR FUTURES: BLOCK: Sep'25 SOFR 1Y Bundle
Mar-24 14:34
- 5,000 SFRU5 1Y bundles (SFRU5-SFRM6) -0.060 at 1031:03ET. Likely swap-tied buying with spreads running tighter in the vicinity.
EQUITIES: EU Bank outright Put buyer
Mar-24 14:32
SX7E (20th Jun) 170p, bought for 3.4 in 9k vs 1.8k at 189.40.
EGBS: Bund put condor
Mar-24 14:27
RXM5 128/126.5/125/123.5p condor, bought for 38 in 5k.
