POWER: Swiss Government Plans to Extend Winter Reserve Until 2030
The Swiss government is planning to extend the country’s winter reserve scheme until the end of 2030, form 2026 previously scheduled, it said.
- The extension of scheme would allow the government to extend current contracts post April 2026, until new capacity becomes available.
- The Birr, Monthey and Cornaux power plants are currently in the reserve.
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EQUITIES: EU Bank put spread
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
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 |
US: SOFR FIX - 05/02/25
SOFR FIX - Source BBG/CME
- 1M 4.30786 0.00053
- 3M 4.30191 0.00003
- 6M 4.25910 -0.00263
- 12M 4.18877 -0.00393
