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HYBRIDS: Hybrid Movers: LaPoste

HYBRIDS

FRPTT 5% Call31 +25c today

  • Since launch it is -46bps lower in yield
  • Has outperformed EDF 5.625 Call32 by 35bps and EDF 3.375 Call30 by 28bps
  • OATs are -11bps vs Bunds in that time (10yr)
  • We had FV at launch at Sub_Sen +145. Currently +130 but OATs are also better in that time.
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FRPTT 5% Call31 +25c today

  • Since launch it is -46bps lower in yield
  • Has outperformed EDF 5.625 Call32 by 35bps and EDF 3.375 Call30 by 28bps
  • OATs are -11bps vs Bunds in that time (10yr)
  • We had FV at launch at Sub_Sen +145. Currently +130 but OATs are also better in that time.