HALISTER1: Position for Hawkish Yellen With Markets ‘On Their Heels’: MKM

Position for Hawkish Yellen With Markets ‘On Their Heels’: MKM

(Bloomberg) -- TLT’s vol surface doesn’t appear to reflect that markets could get a jolt if Yellen gives a stronger signal in her speech tomorrow that at least one rate hike is likely in 2016, MKM derivatives strategist Jim Strugger writes in note.
  • TLT implied vol “near its floor” over the last 2 years, “which suggests markets are on their heels heading into tomorrow”
  • Buy TLT 30-Sept. $136.5 puts for $1.14, to position for a more hawkish outcome that pushes USTs lower along with TLT, while lifting its implied vol
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
TLT US (iShares 20+ Year Treasury Bond ETF)

People
Jim Strugger (MKM Partners LLC)

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UUID: 7947283

HALISTER: Vivendi 2Q Revenue Misses Est,; First Mediaset Hearing Feb. 27

Vivendi 2Q Revenue Misses Est,; First Mediaset Hearing Feb. 27

(Bloomberg) -- Vivendi 2Q revenue down 1.9% to EU2.55b vs est. EU2.61b.
  • 2Q adj. net income EU187m vs est. EU193.2m
  • Says Mediaset due diligence deal ends Sept. 30
    • First Mediaset court hearing scheduled for Feb. 27
  • NOTE yday: PREVIEW VIVENDI 2Q: Pay-TV U-Turn in Focus, Mixed Results Seen
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
VIV FP (Vivendi SA)

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UUID: 7947283