Free Trial

T-Notes 0-05 lower at 129-13+ after....>

BOND SUMMARY
BOND SUMMARY: T-Notes 0-05 lower at 129-13+ after S&P 500 futs registered fresh
all time highs in Asia. A press conference from China's National Health
Commission, outlining the current Coronavirus situation & preventative measures
in play took the edge off fears (for now), with a lack of overt worry evident.
Belly of the curve underperforms in cash trade. Flow wise, focus fell on the
block sale of some calls across different expressions, a regional theme of late.
TYJ0 131.00 calls were sold vs. buying of the TYJ0 128.00/127.00 put spread,
with the USJ0 154.00/161.00 risk reversal also trading, buying puts to sell
calls. Eurodollar futs -0.5 to 2.5 ticks through reds, some steepening evident.
- JGB futures held a tight range, last +4 after recovering from their early
afternoon lows, potentially aided by tighter spreads & uptick in the cover ratio
in the latest 5-15.5 Year liquidity enhancement auction for off the run paper.
- Aussie bonds were bid, aided by the well supported opening of ACGB 1.25% 21
May 2032. There was also some focus on an AFR article titled "Government's debt
manager readies for QE," although the content was less punchy than the headline.
YM +3.5, XM +4.0. Bills unchanged to +3 through the reds.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.