The flow of JPY equity-linked Uridashis has slowed while foreign borrowers are still bringing issues in the Kangaroo and Kauri markets in Australasia.
The best levels in basis swaps for Eurozone issuers of USD bonds since 2018 continues to drive a revival in USD by EUR and CAD funders.
Life returned to basis after Monday's holiday. In some cases almost too much life as traders attempt to hedge a $5bn EIB deal from their sun loungers.
Today was largely one of big picture trading on improving Sino-US trade rhetoric. Nominals sold off, B/Es keep rallying, JPM looks at SONIA and NIRP.
Swappers eyed aggressive 30y SONIA-BOR offers and standout 30y ASW flow today. But what drove the eruption of SONIA-BOR flow?
After a quiet start to the week, both sides of the Atlantic are seeing strong issuance, with USD supply from non-domestic issuers booming.
France received €51bn of 20y orders while BTPs eye a big ERF grant. In basis, offers in EONIA/BOR and bids in 3s6s are reported.
An optically quiet start to the full week of basis swap activity belied what traders suggest will be a busy session.
Secretly sick of clapping the NHS workers? Run out of watchable TV? Ready to pop? You are not alone...
Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.