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Big notable volumes overnight

EURIBOR
  • Early focus is on the Euribor, as Europe comes in.
  • Clear notable volumes in the front two contracts, traded nearly four times the Bund's volume overnight.
  • A decent gap lower from 96.10 to 96.07 for ERU3, and similar price action in the December (ERZ3), albeit off their lows.
  • ERU3 trades at its lowest level since the 27th July, while ERU3/ERZ3 spread has been sold down to 4 and explains some of the elevated volumes, since it has traded in 11.2k outright.
  • The volumes are mostly outright sell off though.

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