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EQUITIES

Yesterday's Nasdaq bounce

GILT SYNDICATION

50-year maturity date confirmed

DUTCH AUCTION PREVIEW

0% Jan-52 DSL

EURIBOR OPTIONS

Put fly

WTI TECHS

(H2) Pullback Considered Corrective

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Tsys hold lower, with TYH2 last -0-11+ at 130-14+, 0-01+ off worst levels, while cash Tsys sit ~2.5-3.5bp cheaper on the day, as the belly leads the weakness. Regional participants have been happy to sell into the late NY bounce in the belly/longer end, given the hawkish rhetoric deployed by Fed Chair Powell on Tuesday.

  • We should also flag that the Washington Post has pointed to the U.S. moving towards stricter COVID testing announcements for travellers entering the country, with an announcement re: the matter potentially coming as soon as Thursday.