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US EURODLR OPTIONS

Large put spread

ISSUANCE

EFSF and ESM plan Bond sale in Q3

SHORT-STERLING OPTIONS

Steepener via option

BONDS

BoE & IFO Focus

JGBS
JGBS: JGB futures consolidated their overnight session gains from Friday and
finished just shy of best levels, after sticking in a tight range.
- Yields sit lower in the main, with the curve a touch flatter.
- The BoJ left the size of its 5-10 Year Rinban operations unchanged today, with
the offer to cover ratio ticking up to 2.91 from 2.44.
- 30-Year supply is due tomorrow, ahead of 5 Year supply Thursday, while
Japanese GDP will hit on Wednesday.
- It is worth noting that there is some Y2.6tn worth of redemptions due on
Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com