Spending much time trying to stay on top of the Eurzone dynamics. Trading flows fairly active - mostly in Nov. 10yr. options as they expire tomorrow. Recently we moved above the 129 strike.
From todays accutic plus Blog:
The above is a brief synopsis of an article in today’s FT. The point is the 3 components noted hear each have very contentious issues that have not been sorted out. The headlines today included concerns that the EU summit to conclude this Sunday should be pushed back. Monday’s premature ejaculation by Sarkozy was typical of what will continue to be happening as this process drags along.
For as much as they hope to have some solid work done by this Sunday – they still need input from the full G-20 summit which is not to conclude until Nov. 4th. Clearly there is still bickering over the size of haircuts and the amounts that banks will need to recapit
For more on these stories and update on todays trading flows go to: http://financialfutures.typepad.com/accutic_plus/
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