What is the deal in the BUND futures

Discussion in 'Index Futures' started by buylo, Jun 17, 2005.

  1. mcurto

    mcurto

    My desk on the floor is literally right next to the 10yr futures pit at the CBOT (I run a squawk box) so I can see all of the huge desks and have an unobstructed view to Hardy Brumfield's pit trader, who is more often than not on the other side of those huge trades. Has been some flashes of what it was like before the screen recently seeing him do 2000 lots at a time and bid for 5000 more.

    Had a nice push higher today. I think the bid was aided by the strength of the Bund early. After 112-15.5 on the upside hit some huge stops again today (in the other direction this time). Hardy got long a bunch on the screen around 14.5, he was offering 15's in the pit after 14.5 traded size on the screen, then we eventually traded up to 18.5 and those traded size. Consolidated a little from there and then just caught a huge bid in the back end of the curve, possibly some buying coming from two-year pit locals on curve flattener trades because they got stuck with some good size this morning on the open (sold 2000-3000 out of the gates). Not to mention June futures expiration and the massive short squeeze that occured at NOON when it went off the board, took us up to the highs again, had size paper buyers (about 4000 June traded on exact high of 112-18 in the pit).
     
    #11     Jun 21, 2005
  2. Oh well, at least i now know why i got hosed this afternoon. Thanks for that Mike.
     
    #12     Jun 21, 2005