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Impressive volumes in the front

EURIBOR
  • Very impressive volumes in the front Euribor, ERU3 for this time of the day, but there hasn't been any notable Block or trading clip, besides the cumulative 5k traded earlier.
  • Some of the Volumes, but not all, can be explained by decent interest in the ERU3/ERZ3 buying, traded 18k outright, but very likely that more have been done on legs.
  • ERU3/ERH4 is also seeing buying interest, traded for 5.8k outright.
  • ERU3/ERZ3 spread, has failed to break 7.5 level multiple times, and the last it traded above 7.5 was on the 17th July.

Chart source: MNI/Bloomberg

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