Anybody else short US 30 Bond

comintel · May 1, 2009

Quote from makloda:

Long ZN, Long GBL, short JGB. GL all

I am long ZB.

I know that
GBL is the Bund
I want to get long that too after their May Day holiday today.

JGB is the Japanese Bond

what is GL (or JGB.GL)?

Thanks

bottompicker · May 1, 2009

Quote from comintel:

I am long ZB.

I know that
GBL is the Bund
I want to get long that too after their May Day holiday today.

JGB is the Japanese Bond

what is GL (or JGB.GL)?

Thanks

Bund Future is FGBL

Bund Option is OGBL

GBL stands for 'Government Bond Long' (Remaining Term is 8.5 to 10.5 years)

Hence GBM or Bobl stands for 'Government Bond Medium/Mid' (Remaining Term is 4.5 to 5.5 years)

Therefore GBS or Schatz stands for 'Government Bond Short' (Remaining Term is 1.75 to 2.25 years)

My guess is that 'GL all' in this context means 'Good Luck all'

comintel · May 1, 2009

Quote from bottompicker:

Bund Future is FGBL

Bund Option is OGBL

GBL stands for 'Government Bond Long' (Remaining Term is 8.5 to 10.5 years)

Hence GBM or Bobl stands for 'Government Bond Medium/Mid' (Remaining Term is 4.5 to 5.5 years)

Therefore GBS or Schatz stands for 'Government Bond Short' (Remaining Term is 1.75 to 2.25 years)

My guess is that 'GL all' in this context means 'Good Luck all'

Very good thanks.....

GuyFawkes · May 1, 2009

Quote from BondTrader50:

I believe it was a function of Globex. It looked like someone put in a huge market sell order but Globex will only allow market with protection which is 15 ticks for ZN. The order will stay offered at the 15 tick mark until bids come in. I think the market may pause temporarily when this happens so the bids can be entered.

Hello BondTrader -so what happened a month ago when the bonds spiked 7/8 points? Was this because there were different order types or no "big" orders?
Seems strange to have so called protection only in this instance.
& I hate the way they don't publicize how Globex works. You only find out on days like that day.
Maybe Globex thinks the big institutions need protection now that they've wiped out local liquidity and most of the traders that used to work the book.

BondTrader50 · May 1, 2009

Quote from GuyFawkes:

Hello BondTrader -so what happened a month ago when the bonds spiked 7/8 points? Was this because there were different order types or no "big" orders?
Seems strange to have so called protection only in this instance.
& I hate the way they don't publicize how Globex works. You only find out on days like that day.
Maybe Globex thinks the big institutions need protection now that they've wiped out local liquidity and most of the traders that used to work the book.

The last FOMC may have had one instance of this in ZN at the outset but there was some back and forth trading during that huge run. If a large order is entered that will take more than 30 price levels(15 ticks) then the protection kicks in. They do publicize it. I'll look for a link later.
I also saw this in Sep 08 in ZN when they failed to pass the bailout bill.

DblArrow · May 1, 2009

Quote from GuyFawkes:

Hello BondTrader -so what happened a month ago when the bonds spiked 7/8 points? Was this because there were different order types or no "big" orders?
Seems strange to have so called protection only in this instance.
& I hate the way they don't publicize how Globex works. You only find out on days like that day.
Maybe Globex thinks the big institutions need protection now that they've wiped out local liquidity and most of the traders that used to work the book.

I think you refering to the time when the Fed announced that they would be buying the bonds.

BondTrader50 · May 4, 2009

Note to self - European holidays now equate to US bond market holidays.

ivanbaj · May 4, 2009

It seems to be an UK holiday. The rest of Europe is open.

I thought that all traders from UK have moved to Switzerland by now.

johnpinochet · May 4, 2009

If we can just break this 120 050 area in the 10 year, I think we will see a nice water fall down day. More than we've seen so far.

johnpinochet · May 4, 2009

Pull up an hourly chart on the 10 year. We are about to test/break three previous tests, i.e. 3 day's worth of previous tests. This is fairly significant, unless more tricks are up their sleeve. Looks like new significant lows are around the corner.