The trading landscape for European rates has shifted violently in just a matter of weeks. In this episode of The European Market Brief, host Mark Longo sits down with two industry experts to dissect the sudden pivot from rate-cut expectations to a reality where rate hikes are back on the table.

Joining the program are Dan Collins, Head of Futures and Options Rates at Aurel Partners, and Andreas Stillert, Vice President and Global Product Lead for Short-Term Interest Rate (STIR) Products at Eurex. Together, they break down the "dual system" of Euribor and ESTR, the dramatic flip in option skew from calls to puts, and how geopolitical turmoil in the Middle East is refueling inflation fears across the pond.

In this episode, we explore:

• The ESTR vs. SOFR Dynamic: Understanding the nuances of the European risk-free rate versus its US counterpart.

• The Great Pivot: Why the market went from 100% certainty of rate cuts to pricing in potential hikes by year-end.

• Volatility & Skew: Analyzing the "unthinkable" shift in the options market over the last fortnight.

• Listener Q&A: We tackle "The Red Phone" questions regarding private credit risks in Europe and the mechanics of the ESTR/repo basis trade.

The trading day doesn't start at the bell—it starts with the data. In this episode of The European Market Brief, Mark Longo heads across the pond to dive deep into the mechanics of the European rates market.

He is joined by an expert panel featuring Dr. Russell Rhoads (Indiana University), Rex Jones (Eurex), and Mingyue Xin (Deutsche Bank) to break down one of the most critical yet misunderstood periods in the derivatives calendar: The Roll.

Inside this episode:

• The "Jelly Roll" Debate: Why the transition from March to June is a "subculture" unto itself in the rates market.

• The Art & Science of the Roll: Finding the "sweet spot" for execution and avoiding the pitfalls of being a late roller.

• US vs. EU Rates: Structural differences in delivery dates and how they impact your portfolio.

• Basis Trading 101: Why hedge funds are fixated on the basis trade and how to understand "Net Basis."

• Cheapest to Deliver (CTD): Understanding the delivery basket and the conversion factor for Bund, Bobl, and Schatz.

Whether you're a seasoned pro or new to the rates complex, learn how to navigate the cross-border volatility and innovation that makes the European marketplace so fascinating.

Is the "Zero Day" infection spreading across the pond? In this episode, we dive deep into the heart of the Eurozone to see how record levels in the DAX and the explosion of 0DTE options are reshaping the landscape for retail and institutional traders alike.

Host Mark Longo is joined by a powerhouse panel to break down the macroeconomic shifts, sector rotations, and the structural innovations making European derivatives more accessible than ever.

• The 0DTE Contagion: Lex Luthringshausen (Tradier) explains why European traders are beaming into US markets to sling intraday iron condors and how that behavior is translating to cash-settled European indices.

• DAX to the Max: Eugen Mohr (Eurex) breaks down the "Conservative Shift" in German politics under the new Chancellor and how government spending in the defense and industrial sectors is driving the DAX 40 to record heights.

• The Economic Cycle: Dr. VSTOXX himself, Russell Rhoads, analyzes why the DAX might offer more "juice" than the S&P 500 in 2026 and why the "Potholes" in the US economy might make European exposure a smoother ride.

• German Engineering vs. Italian Style: A heated debate on the automotive sector—from BMW and Mercedes to the "Poster Car" aesthetics of Italian design.

• Micro-Sizing the Market: Why notional size matters and how the Micro-DAX (at just 1 Euro per point) is becoming the ultimate tool for retail risk management.

• The Red Phone: The panel tackles listener questions on Eurex 0DTE liquidity, "Weekend Risk" trades using V-Stocks, and Tradier's unique "All You Can Trade" subscription model.

• Mark Longo: Founder, The Options Insider Media Group

• Dr. Russell Rhoads: Clinical Professor at the Kelley School of Business, Indiana University

• Eugen Mohr: Product & Business Development Specialist at Eurex

• Lex Luthringshausen: SVP of Business Development at Tradier

• The Leap Trading Competition: Join over 50,000 traders in the Eurex/TradingView paper trading challenge. Visit eurex.com/competition .

• Learn More About Eurex: eurex.com