Tuesday, 11 June 2013

Short Sterling the next to break out!

After the Lean Hog fiasco yesterday, we had a major steepening in the Short Sterling curve today, with 3 month spreads pushing up 3 to 4 ticks with the Jun14Dec15 Spread steepening by 15 ticks at one point which is a huge intraday move. As usual I was shorting into this move which wasn't really the best idea. However each time I got in looked to get out straight away trying to reduce my position as much as I could. Eventually the Spread turned and started going lower, much to my relief and managed to pretty much scratch it all. Either way good volume all round and although Trading today was super stressful, I'd rather have it like this then dead sideways BS. Below is the composition of the months I traded today in Short Sterling.


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