We received inquiries today regarding "Old Faithful," the US 10 yr to the Bund. After a recent satisfactory result from Aug/8, we recommended Sep/11 that clients exit this spread (S) US / (L) Bund, at +17 or so. Last, perhaps +11. We’ll leave it alone for a while.
We did recommended Tuesday am that clients look to own (L / S) the US curve, 2 - 30, +307, 10 - 30, +131. Last, + 310, +130. Nothing. But let’s take this into the Fed meeting.
Robert Craven
We did recommended Tuesday am that clients look to own (L / S) the US curve, 2 - 30, +307, 10 - 30, +131. Last, + 310, +130. Nothing. But let’s take this into the Fed meeting.
Robert Craven
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