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TY & US Futures Blocked, Potential Flattener

US TSY FUTURES

Latest block trades lodged at 02:29:50 London, 21:29:50 NY:

  • TYM1 6.0K lots blocked at 132-13+
  • USM1 2.5K lots blocked at 157-00
  • Although both looked to be sales at first glance, the ratio is roughly inline with the CME's ratio for a TY/US curve trade, so this may be a curve flattener, given the fact that the TYM1 leg was through the prevailing bid at the time of the block, while the USM1 leg was registered at the prevailing bid.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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