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GILTS

UK 5s/30s drifts towards Friday's low

CZECHIA

CZKJPY Found Support Above 38.2% Fibo Level

OPTIONS
OPTIONS: Short-end implied vols generally inching higher across DMFX Monday
morning, with EUR/USD, GBP/USD and USD/CHF 1m measures all higher by around 0.15
points, helping most hit the highest levels in a month.
-GBP vols hold the bulk of their recent gains after surging last week as the one
month contract now captures the Dec12 General Election. All tenors across the
vol curve, however, remain lower than the mid-October highs, at which point the
market still saw material risk of a disruptive No Deal Brexit at the end-October
deadline.
-Options volumes, on the other hand, are much thinner, with quiet USD/CNY and
EUR/USD markets countering the more active USD/TWD and NZD/USD pairs. JPY
crosses are slightly busier, with USD/JPY call exposure favoured. Y109.00,
Y109.15 and Y109.35 call strikes have drawn focus.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com