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Schatz put fly

US TSY FLOWS

US 5s/30s makes another multi months low

US EURODLR FUTURES

Post-LIBOR Settle Update

SWITZERLAND

CHF LIBOR FIX - 02-12-2021

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  • ZARRUB has been retracing higher in the past week despite strong RUB amid firm trend in oil prices.
  • In addition to the elevated real yields and the rising current account surpluses, the risk-on environment has been supporting the ZAR, which some investors view as a proxy for EM 'carry trade'.
  • The pair is approaching its 50DMA at 4.9403; a break above that level would open the door for a move up to 5.
  • Key resistance to watch on the topside stands at 5.0340, which represents its 100DMA and the high of the LT downward trending channel.
  • On the downside, first support to watch stands at 4.76, followed by 4.68 (50% retracement of the 3.90 – 5.46 range).

Source: Bloomberg/MNI