o/n; Zoltan SAYS; some levels to watch; knowns and unknowns
thebondbeat.substack.com
(Good) morning. Stocks DROP, Ruble TANKS as Russia closed stock mkt and on a positive note (for Putin, nOPEC+), OIL SOARS … Going straight to a live look at Putin, Sorry… what happened (and a chart of the belly), WHILE YOU SLEPT Treasuries are higher and the curve flatter as risk-off conditions dominate after the weekend Ukraine-Russia developments (see above). DXY is higher (+0.35%) while front WTI futures are too (+4.75%). Asian stocks were actually slightly higher on balance, EU and UK share markets are deep in the red though (SX5E -3.1%, SX7E - 7.1%) while ES futures are showing -1.4% here at 7am. Our overnight US rates flows actually saw real$ followed by fast$ selling during Asian hours as Treasury prices snapped higher to start the week. The desk noted a dearth of Treasury buyers this morning into the push higher. The desk also reported rising funding concerns as FRA-OIS widened notably along with cross-currency swap levels. Overnight Treasury volume was about 115% overall with relatively elevated turnover seen in 2yrs (156%)…
o/n; Zoltan SAYS; some levels to watch; knowns and unknowns
o/n; Zoltan SAYS; some levels to watch…
o/n; Zoltan SAYS; some levels to watch; knowns and unknowns
(Good) morning. Stocks DROP, Ruble TANKS as Russia closed stock mkt and on a positive note (for Putin, nOPEC+), OIL SOARS … Going straight to a live look at Putin, Sorry… what happened (and a chart of the belly), WHILE YOU SLEPT Treasuries are higher and the curve flatter as risk-off conditions dominate after the weekend Ukraine-Russia developments (see above). DXY is higher (+0.35%) while front WTI futures are too (+4.75%). Asian stocks were actually slightly higher on balance, EU and UK share markets are deep in the red though (SX5E -3.1%, SX7E - 7.1%) while ES futures are showing -1.4% here at 7am. Our overnight US rates flows actually saw real$ followed by fast$ selling during Asian hours as Treasury prices snapped higher to start the week. The desk noted a dearth of Treasury buyers this morning into the push higher. The desk also reported rising funding concerns as FRA-OIS widened notably along with cross-currency swap levels. Overnight Treasury volume was about 115% overall with relatively elevated turnover seen in 2yrs (156%)…