Money Markets

 

 

 

 

 

 


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Equities Slide Underpins Treasuries; Eurodollar Flows Active 

Treasuries were steady following a solid 3-year auction, which tailed slightly through the WI level; stocks continued to trade near lows of the day, with the S&P 500 Index -1.4% and Nasdaq Composite Index -2.1%. Eurodollar option flows ramped up and included large downside risk-reversals.

  • Stocks weakness was led by technology and energy names; oil continued to slide, with WTI reaching lows of $72.90 and almost 3% lower on the day; notable weakness also seen in Boeing and Caterpillar names as effects of the trade war hit corporate profits.
  • Treasuries curve continued to steepen, with 5s30s wider by 1.1bp on the day ; earlier, futures block trades pointed to large flattener position being stopped out for about $13m loss.
  • Large downside eurodollar risk reversal (targeting Dec21) traded over the morning session in around 100k; 3EX8 96.80/96.875 risky, selling the call at 1 tick, says London Trader familiar with the matter
  • Also, EDU0 95.75/95.50 put spread was bought in 30k at 2.5 ticks; trader


REPO Market Open/Close 

(Bloomberg) — The following is a summary of closing rates in the market
for U.S. repurchase agreements, or repos, in New York. All repo rates are for
overnight transactions at the bid side of the market as reported by NEX.

 Lowest Repo Rate as of 12 p.m. New York time:
 The current ten-year note closed at the lowest repo rate: 1.93 percent.

 All Rates:

Current 2-year note: 2.25 percent, up from: 2.22 percent.
Old 2-year note: 2.19 percent, up from: 2.17 percent.
Current 3-year note: 2.25 percent, up from: 2.22 percent.
Old 3-year note: 2.24 percent, down from: 2.25 percent.
Current 5-year note: 2.12 percent, up from: 2.02 percent.
Old 5-year note: 2.28 percent, up from: 2.26 percent.
Current 7-year note: 2.29 percent, up from: 2.27 percent.
Old 7-year note: 2.26 percent, up from: 2.24 percent.

Current 10-year note: 1.93 percent, up from: 1.92 percent.
Old 10-year note: 2.29 percent, up from: 2.27 percent.
Current 30-year bond: 2.06 percent, up from: 2.02 percent.
Old 30-year bond: 2.20 percent, up from: 2.14 percent.

 


(Bloomberg) — The following is a summary of closing rates in the market
for U.S. repurchase agreements, or repos, in New York. All repo rates are for
overnight transactions at the bid side of the market as reported by NEX.

 Lowest Repo Rate as of 12 p.m. New York time:
 The current ten-year note closed at the lowest repo rate: 1.93 percent.

 All Rates:

Current 2-year note: 2.25 percent, up from: 2.22 percent.
Old 2-year note: 2.19 percent, up from: 2.17 percent.
Current 3-year note: 2.25 percent, up from: 2.22 percent.
Old 3-year note: 2.24 percent, down from: 2.25 percent.
Current 5-year note: 2.12 percent, up from: 2.02 percent.
Old 5-year note: 2.28 percent, up from: 2.26 percent.
Current 7-year note: 2.29 percent, up from: 2.27 percent.
Old 7-year note: 2.26 percent, up from: 2.24 percent.
Current 10-year note: 1.93 percent, up from: 1.92 percent.
Old 10-year note: 2.29 percent, up from: 2.27 percent.
Current 30-year bond: 2.06 percent, up from: 2.02 percent.
Old 30-year bond: 2.20 percent, up from: 2.14 percent.

 

 


-R.W.N II, yours in 322.

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