OIL: WTI targets the February low

Feb-13 10:13
  • WTI is now looking to test through the February low of $70.44, printed last Week, this was also the lowest printed level since 30th December.
  • Oil has slipped lower in early trade after falling some 3% Yesterday, a continuation on peace hope in Ukraine, after Trump said that negotiations will begin imminently.
  • A clear break through $70.44 in WTI, would open to $69.79 next.

Historical bullets

EQUITIES: EU Bank rolling Option call

Jan-14 10:11
  • SX7E (17th Jan) vs (21st Feb) 149c, bought the feb for 2.7 in 20k.

Suggest rolling call, there's 22.1k OI in the Jan.

GILT AUCTION RESULTS: Decent 30y linker auction

Jan-14 10:09

Decent 30y linker auction with the average price of 80.714 higher than at any time during the auction window. This has led to the price moving higher post-results (albeit now a little below the striking price of the auction).

  • The bid-to-cover of 3.06x was marginally lower than some other 14+ gilt auctions recently - but to still be in excess of 3x shows no real concerns in the market here.
  • 10-year nominal yields moved down marginally on the release of the results (but largely retraced that move now).
  • No reaction in the 10-year or shorter part of the curve, nor in gilt futures.

EURIBOR: EURIBOR FIX - 14/01/25

Jan-14 10:05

EURIBOR FIX - EMMI/Bloomberg

  • EUR001W 2.9260 0.0110
  • EUR001M 2.8520 0.0020
  • EUR003M 2.7610 -0.0240
  • EUR006M 2.6850 0.0300
  • EUR012M 2.6120 0.0360