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OI/Market *PIC*

Big Sep liquidation as a result of EFP, spreads and outrights. The drop in the total could reflect spread liquidation on both sides as well shorts covering as longs liquidate. Today it appears to be a typical roll market. Systems are of course present and are constant buyers but there seems to be other buyers present on and off. The selling also varies in intensity. The SepDec alternates between -3.50 bid and asked and is presently bid. The market in general looks steady from this point. BRL is 3.1485 +.0215.

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OI/Market *PIC*
Re: OI/Market