This is a must read - http://washingtonexaminer.com/politics/2011/06/union-curbs-rescue-wisconsin-school-district . If this is true then enough eyes may be opened to give more than lip service to “ending corruption now”.
Fairly calm markets for the moment – again caution pervades the air. Very interesting in that Japan may be forced – probably already is being forced to intervene aggressively as worries over the US debt ceiling is forcing the US currency lower – sending flow into the yen. Since this hurts their export driven economy they are forced to intervene and by dollars and likely holding treasuries rather than just cash. I wonder if Bernanke master minded that scenario – not bad I say – after all the have no standing army to do anything more substantial than just play into the hands of those that do. “Conjecture” ??
Back on 3/18 the yen was worth well under 80 to the dollar as a pending nuclear disaster was threatening the entire country and capital repatriation increased the value of the yen. http://financialfutures.typepad.com/kiss/2011/03/treasury-trading-update-15.html Currently it is trading below 80 to the dollar which will be damaging to them.
Just now 9:28 a.m.c.s.t. dealer paying 3.49 for the USU 125 straddle – not the at the money – however this raises the market on the 126 straddle to 3.42/3.47 from a 3.39/3.43 opening level.
Moving forward: 10:08 a.m.c.s.t. now see markets holding rally off 9:00 a.m. data however (call if you want to know what however implies). Like yesterday volatility has been bid up since opening levels again as politicians are driving the markets these days and you know what that can mean.
Larger flows from a.m. session listed below:
| 7/26/2011 | |||||
| Paper | B | 5,000 | EOZ 88/91/93 p fly | 5.5 | 9917/17.5 |
| Paper | S | 10,000 | EDU 9962 p | 5 | 9965.5/66 |
| Paper | B | 1,000 | EOU9912/9925 p spread | 2.5 | 9932.5/33 |
| Paper | B | 1,000 | EDZ1 9950 strad | 25 | 9954.5 area |
| Paper | S | 2,000 | EDH 9900 puts | 6 | 9949/49.5 |
| Paper | S | 1,000 | EOQ 92/93 c 1X2 | 5 | 9932/32.5 |
| New Edge | B | 5,000 | EOU 90/92 c spread | 21.5 | ^9933 |
| Fed Fund opts | |||||
| Paper | B | 2,000 | FFQ9987 p | 0.5 | 9991.5/92 |
| Mann | B | 500 | FFQ9981p - FFU 9981 p | .75 (twice on Q) | N/A |
| Paper | B | 1,000 | FFZ/F 9987/9993 c sprd strip | 6 | N/A |
| Smith B | S | 200 | FFV 9987 strad | 5 | 9987.5/88 |
| Mann | B | 1,500 | FFZ9981/9987p 1X2 | 0.25 | 9984.5/85 |
| 10yr. Opts | |||||
| JP Morg | B | 1,000 | TYU120p | 0.16 | 12330/31 |
| DT | S | 1,000 | TYU123p | 0.47 | ^12403 |
| New Edge | B | 2,000 | TYU121/123 p 1X2 | 0.06 | 12402.5/03.5 |
| Paper | S | 750 | TYU124.5/125.5/126 c tree | even 124.5 over | 12403/03.5 |
| Paper | B | 500 | TYU117/119/121 p fly | 0.06 | 12404.5/05 |
| Paper | B | 500 | TYU121/123 p spread | 0.26 | 12405/05.5 |
| Merril | B | 500 | TYU120/121 p spread | 0.06 | 12409/09.5 |
| Swiss B | S | 1,000 | TYU125.5 c | 0.39 | 12412/12.5 |
| New Edge | S | 500 | TYU119/122 p spread | 0.19 | ^12410 |
| Goldberg | B | 1,500 | TYU120.5/122 p spread | 0.13 | ^12409.5 |
| 30yr. Opts | |||||
| New Edge | B | 1,000 | USU 125 straddle | 3.49 | 12520 area |
Comments