The 5's and 30's are garbage right now. It's impossible to do any type of spread involving these 2. There are only takers and no makers in this market, which leads to this insane movement. They will need a pro rata or a maker vs taker structure.
Autospreaders are not working right now you do have to leg everything, that being said I have taken time off spreading and am trading the curve outright now. Too expensive to get hung on size in any cash product right now!
Looks like liquidity is way down on the dom. Has been like that yesterday and today since the change. ZN and ZF appear to be experiencing the same thing. Lots of spikes and gaps in the fills, just look at the charts on about any short time frame, I'm not liking this change so far.
Looks like everybody rolled over to the new contracts on ZF, ZN and ZB without me, that is where all the volume went. I had my charts stuck on the last contract, no wonder they looked sickly.
hey guys...when trading the 10 year note(electronic)...is it a must to keep abreast of what the ES is doing...OR...solely focus on the 10 year if that is what you are trading and forget the ES...etc...just want to know what you think as to the value of playing the 10 year off the ES etc....thanks...
the NOB spread finally hit 0,par, even money , today , and under a bit . Use to trade it alot , the NOB back in the early to mid 90's . just started to get interested in the spreads again here recently ... jake
The curve sure has steepened. Less than year ago, the 10-year and 90-day rates were the same. Now, the 90-day is at 1.37% while the 10-year is at 3.63%. This week alone, the 90-day is down 43 basis points while the 10-year is up 10bp.