Here is something worth reading: http://livingingreece.gr/2010/05/02/greece-new-austerity-measures/ Spells out most the details on the austerity measures Greece is being asked to vote on this week.
Trading activity somewhat mundane today – and must be leaving shortly - as I see it equity rally should top out soon and 10’s very over sold @ 12402 – bonds neutral. Best play for me will be to wait for rallies to sell in fixed income – but be careful as vote may be upon us over night – potentially and not sure which way will play out. I am leaning towards a successful vote and thus potential for long end of treasuries to see rates rise from here.
Larger flows listed below:
| 6/28/2011 | |||||
| Paper | B | 10,000 | EDU 83/85 p spread | 0.25 | 9959.5/60 |
| Paper | B | 10,000 | EDU 90/92/95 p fly | 1.5 | 9959.5/60 |
| Paper | S | 2,000 | EDU 9937/9950 ps | 1.75 | 9959.5/60 area |
| Advantage | B | 5,000 | EDU93 / EDZ90 p calendar | Flat U over | N/A |
| Fed Fund opts | |||||
| Paper | B | 2,500 | FFZ9987c | 1.25 | 9982.5/83 |
| Paper | B | 700 | FFU 9981/9987 c spread | 4.75 | 9986/86.5 |
| 10yr. Opts | |||||
| Scrren | S | 6,000 | TYQ126/127 c spread | .11 and .10 | 12410 area |
| Yesterday long in that spread sold at least 30K Open interest shows liquidating. | |||||
| New Edge | B | 2,000 | TYQ126/127 c spread | 0.1 | 12407 area |
| CSFB | B | 5,000 | TYU127.5 c | 0.25 | ^12410.5 |
| Paper | B | 1,000 | TYQ123/124 p spread | 0.23 | ^12408.5 |
| Paper | S | 1,200 | TYU121/127 combo | flat - call over | ^12407 |
| Paper | S | 1,250 | TYU123p | 0.61 | ^12408 |
| Paper | S | 500 | TYQ127c | 0.09 | ^12405 |
| 30yr. Opts | |||||
| Paper | S | 100 | USQ122/128 strangles | 0.6 | 12430 area |
| Paper | S | 500 | USQ122/128 strangles | 0.59 | 12505 |
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