Daily Bulletin: Wednesday April 8

Below expectation U.S. nonfarm payrolls Friday have been driving a shift in approach from hedge funds in trading S&P 500 options conditional on U.S. rates. Funds have been scouting out opportunities in entering into upside S&P 500 options conditional on U.S. rates being lower. It marks a shift in strategy from players that have been selling correlation between equities and U.S. rates through hybrid options. Also, the busy spring arrival and departures season continues a pace. Bank of America Merrill Lynch has seen a duo depart in London. Yesterday, EQDerivatives reported on the addition of a BAML staffer to the cross-asset desk in New York. Reminder: register for EQDerivatives’ Global EQD event May 20-21. Accommodation discounts are about to expire. All details at www.eqderivatives.com/events