Best Thread Euribor Flipper??
In december 2004 bobl, dropped more than 100 ticks out of nothing, see your chart. There was something with citibank, not sure what it was and I would like to know, somebody else here know what happened? bund did react with maby 30 ticks. but BOBL dropped waaaaaay harder.
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0FXTrader0
citibank sell then buy back
Headline was that citibank sold a huge amount of german bonds into a light market. Price fell like a brick then citibank brought back a quarter of there postion at a lower price making a massive profit .
The FSA made an enquiry and they may have got a fine. Citibank got a lot of bad press about it.
Headline was that citibank sold a huge amount of german bonds into a light market. Price fell like a brick then citibank brought back a quarter of there postion at a lower price making a massive profit .
The FSA made an enquiry and they may have got a fine. Citibank got a lot of bad press about it.
the citibank trade you are referring to occirred early in August last year.
The spike in bobl in dec (around 27 i think) was unrelated to the citibank trades...
Basically Citibank bid up the bunds and bobls - this raised the pirce of the cash equivalents.
Then they sold around 200 cash Euro bonds on MTS... before buying a chunk back half an hour later
The spike in bobl in dec (around 27 i think) was unrelated to the citibank trades...
Basically Citibank bid up the bunds and bobls - this raised the pirce of the cash equivalents.
Then they sold around 200 cash Euro bonds on MTS... before buying a chunk back half an hour later
The Decemeber thing with Bobl was in a very thin market between xmas and new year. Phily Fed ( i think it was) came out at 5pm London time, it was a very good number. No size in the market a lot of shops closed for holidays and basically stops went off. It recovered almost immediately.
