You guys expect some narrowing of the TUT spread ? In the last couple of weeks I did not meet anybody who wasn´t on the band waggon...Based on herd like mentality, we should see some decent pullback...
I would like to thank Moody's for coming out with that info, that really stuck a rod in my ass good! bonds rally 12 ticks in two minutes, gotta love shock and awe!
We're expecting the cash TUT (2/10's) to narrow/flatten to ~75-80bps, currently taking some heat after establishing position ~96 level. RBSGC seems to share the same view. Freakish though, some tense moments when it was trading > 100 still holding onto a ballsy flattener in 2/30's, 146 level, tgt 117-ish (firm managed to exit partially at 119 during the last flattening phase).. If you're in need of a update at 10:53PM Sunday: 2/5 - 37.40 x 37.70 -1.30 2/10- 98.60 x 99.70 -1.40 2/30- 145 x 146 -1.70 only thing working for us (somewhat decent, after a raping in Cantor REPO is the 10yr OTR vs the 10Y ooCurrent, trading at 1.20 x 2.00 -0.10, breakeven is 1.70 off to bed. 5:45am comes early. -cbk EDIT: Prices from Thomson Tradeweb.
nice trade after hitting 105.6 at the high they really dumped the curve yesterday afternoon currently 96.6
Agree.... I hope this thing keeps on flattening.... Seeing some bid in 30's this morning on tradeweb cash... I won't be around to watch the Fed action, unfortunately I have to leave early -c