Bases are tighter led by cross currency as the Fed announces a new central bank repo facility. New issues gush. Brevan is up again.
It might not be the most important stat related to the virus's world tour. But the 3m EUR/USD basis is at an all-time high. Not for long, say traders.
Corporates AB InBev, Thermo Fisher and VW are working on deals alongside Canada's CPPIB.
The quasi-communist world of the global bond market is marching forwards again in the last couple of days after a fierce battle with the enemy within.
Listing of Asia Pacific structures and vanilla bonds sold by offshore issuers.
2,000 years ago Jesus spent 40 days and 40 nights in the desert. This Lent, cross-currency basis swappers face an even longer stint in the wilderness.
The scramble to raise debt has brought a mix of corporates, financials, agencies and sovereigns to the market.
The US domestic bond market has staged something of a recovery in the last few days but central banks continue to drive basis.
As swappers from Scandinavia to the heart of Europe saw more cities enter corona lockdown, the Fed's CP plans helped lift basis from crisis levels.
Overnight action by the Fed and other sympathetic central banks stopped the rot in the front end of the x-currency basis market for a good 3 hours.