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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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Free Access### POV, MAKING A SPLASH IN......>
US EURODLR OPTIONS: ### POV, MAKING A SPLASH IN CONDITIONAL CURVES
* Paper bought 20,000 Green June'21 97.50/97.75 call spds over the Gold June'23
97.50/97.75 call spds, paying 2.0 for the conditional bull curve steepener early
Monday.
* Interesting structure for several reasons: selling Gold pack structures (sort
of a position black hole in more than one way...illiquid, poor vega performance)
is a a decent sale to help fund buying Green call spd if you think Fed will
pause or potentially cut rates with Greens adjusting higher.
* Also note, the Gold pack call spread is an opener -- no open interest yet.
* Gold expiry options are now in the 'post-libor' part of the curve and may no
longer be the benchmark at that time. Expect to see more of such structures
trade in the near- to mid-term as long as hawkish Fed tone for 2019 continues to
moderate (traders/dealers seeing one hike next year vs. 3-4 only a couple weeks
ago).
To read the full story
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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.