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Front end jumps higher

EURIBOR
  • Peculiar move in ERU3, fix wasn't lower, but a notable move in ERU3 higher, bought in over 5k, as well as ERZ3 was also lifted in 5k.
  • ERU3/ERZ3 has now been bought this morning, explains some of the elevated volumes.
  • The spread has traded 22.5k spread outright, with likely more done on legs.
  • The spread is back at 6.5/7, just ahead of the big resistance at 7.5.
  • Sonia are also bouncing, and US SFR find a base.

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