BRIEF: ECB's Panetta-Time To Start Thinking Of NGEU Successor

MNI China Daily Summary: Wednesday, Aug 21

MNI: PBOC Net Drains CNY111.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1307 Weds; +2.41% Y/Y

CHINA PBOC CONDUCTS CNY258 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1307 WEDS VS 7.1325

US MBA: REFIS -15% SA; PURCH INDEX -5% SA THRU AUG 16 WK

MNI: US MBA: MARKET COMPOSITE -10.1% SA THRU AUG 16 WK

MNI: UK JUL PSNCR GBP19.23 BN

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Late Options/Futures Round-Up

US TSYS
Tuesday return from from extended MLK holiday weekend saw deceivingly heavy Eurodollar/Treasury futures and options volumes. Large volumes kicked off Monday evening during early Asian hours as Globex re-opened.
  • Implied vols traded firmer as underlying futures continued to confirm tighter policy expectations through year (Reds-Blues -0.080 to 0.130 after the bell), put skews remain rich to corresponding out-of-the-money calls.
  • Couple examples included scale buyer of over 75,000 TYH 126 puts from 14-17, while Eurodollar options saw buy of 36,000 Jun 99.00 puts at 5.0 before the open.
  • Not so subtle changes in Eurodollar futures in longer expirys: Eurodollar Whites (EDH2-EDZ2) are pricing in four .25bp quarterly hikes starting in March while longer dated option positioning are starting to target Jun, Sep and Dec expirys.
  • Curve synthetic of note: paper sold -20,000 Green Feb/Blue Feb 97.75 put spd, Blues sold over, for net credit of 1.25 on the conditional bear flattener.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.