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US TSY OPTIONS

BLOCK, 10Y Put Sale

FED

Reverse Repo Operation, New Record High

OPTIONS

SONIA Dove Strikes Again

EGBS
EGBS: German Bunds have fallen from session highs in last 30 minutes or so,
likely weighed by EGB bond supply from Italy, Germany and Finland, as impact of
soft German IFO fades. German 10-yr yield last 1.1bp lower at 0.625% with the
curve flatter as 2-yr space is under pressure from Schatz re-opening auction for
E4bln. German 2s/10s is 1.3bp tighter.
- German IFO business climate indicator slipped to 102.1 in April from 103.3 in
March, more than the 102.7 expected by analysts. While the current conditions
and expectations component dropped to 105.7 from 106.6 and 98.7 from 100.0
respectively.
- EMU periphery bonds are fairing slightly worse than their core counterparts
with 10-yr Bund/Bonos spread 1bp wider, while Bund/PGB spread widens by 2bps.