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More front end spread buying interest

EURIBOR
  • In case missed last night, in Rates, the Euribor (ERU3/ERZ3) was bought for 3 in 17.1k.
  • We noted of some decent buying interest of the ERM3/ERU3 and ERU3/ERZ3 spreads of late, this Month.
  • June has of course expired, but the ERU3/ERZ3 is slowly edging towards the 2023 double top, the Feb and March high at 5.5, also the highest print since July 2022.
  • So far the spread has traded for just 1.6k.

Chart source: MNI/Bloomberg

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