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EURIBOR OPTIONS

Blue put fly buyer

OPTIONS

Expiries for Sep16 NY cut 1000ET (Source DTCC)

FRANCE AUCTION RESULTS

5/10/20-year OATei

EGB SYNDICATION

Austria 15-year syndication: Launched

BONDS

Bear steepening

MARKET INSIGHT

Price Signal Summary - EURJPY Weakness Extends

- Bonds globally are weaker, with US...>

BOND SUMMARY
BOND SUMMARY: - Bonds globally are weaker, with US yields continuing to push
higher in a bounce-back from Thursday's below-consensus US CPI reading, and UK
Gilts under pressure.
- Dec8 bond futures are lower, with the Bund down 16 ticks at 159.30, US T-Note
off 5+/32 at 119-08, and Gilt down 23 ticks at 121.46.
- BoE Governor Mark Carney's comments in Dublin have proven fairly non-eventful
but did little to stem the bearish move in UK rates and yields this morning that
followed from reports that he signalled higher interest rates in event of
no-deal Brexit (Gilt future hit a low of 121.34 as Carney was speaking).
- The belly of the USTsy curve is underperforming, with 2-Yr yields up 1.3bps at
2.769%, 5-Yr up 1.6bps at 2.888%, and 10-Yr up 1.3bps at 2.983%.
- Global rate futures are lower, led by long-dated Short Sterling and
Eurodollars, for which Green and Blue contracts are off 3.0 ticks.
- U.S. retail sales (0830EST) and industrial production (0915EST) are the
headline releases on Friday. Also, Fed's Evans and Rosengren are due to speak.