UST Rally Looks ‘Fragile’ as Qtr-End Nears, Credit Agricole Says
Source: BFW (Bloomberg First Word)
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David Keeble (Credit Agricole SA)
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UUID: 7947283
(Bloomberg) -- Recent UST rally may have left leveraged investors “quite long and so the rally looks fragile,” particularly with qtr-end approaching, Credit Agricole strategist David Keeble writes in note.
Alert: HALISTER1- “Exceptionally high” correlation between O/N GC repo suggests that funded investors are driving mkt movements
- When USTs rally, leveraged investors are cutting shorts or increasing long positions
- “Either way, there is an influx of collateral to the repo market, relative to the availability of cash”
Source: BFW (Bloomberg First Word)
People
David Keeble (Credit Agricole SA)
To de-activate this alert, click here
UUID: 7947283