Basis -

Basis: XVA dominates as 10s/30s curves steepen

While bond yields rally as if the end of the world were nigh, the cross-market volatility means one thing in basis. XVA-driven steepening in 10s30s.

EUR New issues: AFD, ING, and EU; NGEU stats

AFD, ING Belgium and an EU private placement are all on the slate today. Elsewhere, data for NGEU's deal shows banks took down about 1/4 in total.

Basis: GBP deals drive short EUR/USD; Trap sprung in 25-30y

Optically, cross-border bond issuance doesn’t seem prolific, but basis swappers say things have been lively enough for them, in the circumstances.

EUR Swaps: New Bund ASW highs; Steeper with USD

Bund ASWs printed new highs amid talk of client flows while the 2s/10s curve steepened along with USD.

EUR New Issues: Morgan Stanley, Electrolux, Europcar

Morgan Stanley is pricing a two-part euro deal while corporates Electrolux and Europcar join the pipeline.

Basis Swaps: XVA and 5y flows stand out in thin market

A quiet session so far has seen likely XVA flow in ultras and 5y EUR/USD action. Commerzbank blames ASW moves for new lows in basis.

EUR New Issues: Berlin Hyp, SCBC, TenneT multi-tranche

TenneT is pricing a four-part deal. Also active today are Berlin Hyp and SCBC.

Basis Swaps: GBP dominates sparse issuance market

April is doing its best to be the cruelest months for thirsty basis swappers, with issuance sparse despite the best efforts of GBP and Canadians.

Basis: GBP/EUR gamma talk; JPY Golden bounce

Fast money flows stalked the front-end of EUR/USD while gamma hedgers were eyeing long GBP/EUR. Traders and strategists mull a JPY/USD bounce.

Basis: Two-way trading as front-end firms on fading flows

New issuance driven two-way trading in basis today offered a whiff of calmer, happier days. Front-ends bounce after Japan new year flows.