MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Eurodollar/Treasury Futures/Options Roundup

US
Another volatile day for stocks Tue, similar to late Mon's sharp rebound to finish higher, shares staged a second half rally back near steady -- but pared more than half the bounce after the FI close.
  • Otherwise, Tsy trade was generally subdued trade ahead Wed's FOMC policy annc (no rate change anticipated yet, clearer forward guidance re: liftoff, balance sheet run-off, QT) Main focus on geopolitical risk and headlines re: Russia/Ukraine invasion threat, NATO, US troops on high alert.
  • Limited react to data on day: US NOV FHFA HPI SA +1.1% V +1.1% OCT; +17.5% Y/Y; US CONF BOARD CONSUMER CONFIDENCE 113.8 IN JAN V DEC 115.2.
  • Tsy futures holding near middle of weaker session range with mild short covering after $55B 5Y note auction (91282CDT5) stops through: 1.533% high yield vs. 1.547% WI; 2.50x bid-to-cover vs. December's 2.41x.
  • Indirect take-up: climbs to 68.72% vs. Dec's 2021 year high of 65.66%. Primary dealer take-up: recedes 14.80% vs. 20.02%; Direct take-up 16.48% vs. 14.32%.
  • Eurodollar option flow: Liftoff Positioning, 50Bp June hike in addition to 25bps liftoff from Fed in March. EDM2 currently trading 99.265: +5,000 Jun 98.93/99.00/99.06/99.12 put condors, 1.0 vs. 99.29/0.05%
  • Elsewhere, targeting five 25bp quarterly hikes starting this March through March 2023, paper adding to bear curve (Whites/Greens) steepener: +15,000 short Mar 98.50/Green Mar 98.00 put spds, 0.25/Greens over
  • The 2-Yr yield is up 6.2bps at 1.0333%, 5-Yr is up 2.2bps at 1.5691%, 10-Yr is up 1.1bps at 1.7814%, and 30-Yr is up 1.4bps at 2.1258%.
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

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.