Free Trial

### Adding to last week's massive....>

US TSY FUTURES
US TSY FUTURES: ### Adding to last week's massive cross-asset spread trade:
Betting on Tsy ylds to decline relative to Germany. 
* Regarding this morning's large buy/blocks in FVM futures (34.675k from
113-11.5 to 113-12.5) is likely adding to a block sale in Jun Bobl futures
(6,831 at 130.92, see 0907ET bullet). As a reminder, last week saw a MASSIVE
steepener block in Tsys 
* +100,174 FVM 113-10.5
* -63,887 TYM 119-03
This occurred around same time as Massive flattener in Bunds/Bobl
* -65,360 OEM8 at 130.61
* +29,150 RXM8 at 157.81
A look at open interest after last week's cross asset mega-blocks had the
following:
* FVM open interest +113,893, TYM -15,665
* OEM open interest +33,626 , RMX -18,890. In other words...buying FVM vs.
selling OEM, today's Blocks are an add to this play.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.