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US TSY FLOWS

Overnight steepener

AUD

Extending small gains

US TSY OPTIONS

Put spread trades again

*** Latest trade. Upside call....>

US EURODLR OPTIONS
US EURODLR OPTIONS: *** Latest trade. Upside call buying remains strong --
despite the drop in underlying futures on the back of stronger than expected
data (making some ponder whether the Fed will let things run hot for a while
after this week's "patient" post FOMC statement).
* +10,000 Red Mar'20 85/90 call spds, 1.5 -- ongoing buyer has accumulated large
>100k position in the spread, looking to capitalize on a reversal in 3M LIBOR
levels to below 1.485% (compares to 2.7326% this morning, -0.0191/wk) over a
decent 409 days to expiration, as global markets cool and markets start pricing
in potential rate cuts. Other recent flow includes
* +10,000 Sep 75/78 call spds, 4.0
* 10,000 Green Dec 75/80 2x3 call spds vs. 30,000 Green Dec, 6.0 net, after 11k
Blocked earlier for net of 7.0
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com