U.S. Treasury Receipt Growth Rebounds: U.S. Treasury Receipt Growth Rebounds: Daily Treasury data imply a solid 12% September y/y receipt rise that offset weakness in July and August to leave a respectable 8% y/y rise for receipts in Q3 overall, following an anemic 5% y/y climb in Q2. Individual withheld receipts rose by the same 12% y/y in September, and analysts now expect a lean 5% y/y Q3 rise. An assumed 13% y/y September outlay gain translates to a $82.0 B September deficit, and a $508.3 B FY14 gap that just barely exceeds the $506 B official CBO estimate from August 27.
More euro$ interest rate options: a large 2x1 call structure More euro$ interest rate options: a large 2x1 call structure consisted of a purchase of 50k in Short March 88/90 call spreads vs a 25k sale of March 2015 96 calls. There was also a sizeable 40k purchase of Green December 80/82 call spreads reported. The December 2014 contract is now a half-tick firmer near 99.77, while the deferreds are still. 1-2.5 ticks firmer out the curve.
Market begins week in positive territory Stock futures held steady during the pre-market trading session, with the optimism from last Friday's jobs report continuing into the new week. The futures action has led to a higher open. There is little on the economic calendar, which is very quiet until Wednesday when the Fed releases its minutes from last month’s FOMC meeting. In focus instead are the several M&A deals that were announced as well as HP's (HPQ) plan to split into two companies. In early trading, the Dow is up 70 points, the Nasdaq is up 13 points and the S&P is up 8 points.