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BLOCK -- Adding to 5Y Puts as a Spd


EGB Supply For W/C Sep 20, 2021


Sees broader base buying, led by risk


BLOCK, Oct 5Y Puts

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EGBS have extended gains throughout the afternoon pushing yields at multi months lows.

  • Bund is tested through the next yield level of -0.50%.German 10 yr yield now trades at lowest levels since the 2nd of February.
  • Equities paring gains has favoured further FTQ this afternoon.
  • Peripheral spreads are tighter, with Greece in the lead by 0.7bps
  • Gilts have followed suit, with 20yr yields falling at lowest levels since February.
  • UK 10yr yield trades near the July low at 0.497%, also the lowest level since Feb, now at 0.500%.
  • Looking ahead, Fed's Bowman Gives Welcoming Remarks at Fed Conference.
  • Sep Bund futures (RX) up 24 ticks at 177.06 (L: 176.67 / H: 177.12)
  • Germany: The 2-Yr yield is up 0.5bps at -0.77%, 5-Yr is up 0.5bps at -0.75%, 10-Yr is down 0.1bps at -0.488%, and 30-Yr is down 0.6bps at -0.017%.
  • Sep Gilt futures (G) up 38 ticks at 130.42 (L: 130.01 / H: 130.47)
  • UK: The 2-Yr yield is up 1.5bps at 0.049%, 5-Yr is down 0.3bps at 0.222%, 10-Yr is down 1.5bps at 0.506%, and 30-Yr is down 2.3bps at 0.935%.
  • Sep BTP futures (IK) up 15 ticks at 154.99 (L: 154.69 / H: 155.06)
  • Sep OAT futures (OA) up 17 ticks at 162.57 (L: 162.21 / H: 162.61).