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RE: Saudi
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Paul Barrett Nov 14, 2017 4:09 PM
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Are you worried about this Saudi-Iran issue getting worse? Watching Saudi CDS again. If not then oil likely a sell.
Paul Barrett
Alpha Group Capital LLC
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jeffrey E. Nov 14, 2017 4:11 PM
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yes likely to get worse. oil not yet a sale
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Paul Barrett Nov 14, 2017 9:55 PM
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jeffrey E.
It has moved 25bps since last week but remains the best way to play — if things blow up with Iran it should widen and if things settle and oil sells off then it likely stays wide.
Math: $10MM notional costs —5105,000 per year plus roll and leaves a Dv01 of $4500 (p/I per basis point)
Paul Barrett