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US TSY FUTURES
Latest block trades lodged at 09:05:26 London/04:05:26 NY:
- FVU4 7,300 lots blocked at 106-07+, looks like a buyer.
- UXYU4 7,000 lots blocked at 112-16+, looks like a seller.
- WNU4 1,580 lots blocked at 123-01, looks like a buyer.
- Would point to a belly seller of the FV/UXY/WN fly.
- This comes with the 5-/10-/30-Year cash Tsy butterfly trading at fresh multi-week highs (in closing terms).
- The position looks for a continuation of that move.
- The block follows a virtually identically sized trade that was blocked around this time yesterday, which also looked like a belly seller of the fly.
- A reminder that we have seen several rounds of TU/FV/UXY fly block trades during Asia/early London hours in recent months.
- This could be the same account, with a new position seemingly building in the FV/UXY/WN fly (over $1.2mn DV01 belly equivalent over the two trades).
Fig. 1: U.S. 5-/10-/30-Year Butterfly (bp)
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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.
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