Day Three in the RFR house and signs of dissent are emerging. EURIBOR-LIBOR seems to be swimming against the tide.
Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.
Summing up this historic day in his market, one seasoned basis swapper said the transition to RFRs will make regulators happy. If that is possible.
Another mellow Autumn day was full of fruitfulness once again for GBP, with a SONIA-linked RBC deal and a larger-than-expected deal from L-Bank.
Euro new issuance is teeming with activity this week.
The pipeline is bursting with several big deals set to price today.
As recently as August, long-suffering basis swappers were pooh-poohing the idea of big GBP issuance onslaught this Autumn. Now they are less sure.
A slightly busy Thursday followed a very busy previous two days. The 7y EUR/USD basis stood out, as did post-Brexit cable.
US pharma Eli Lilly is targeting the long-end of the euro curve. CADES issues a 10y Social bond.
A first proper wave of new season supply, led by EUR and a highly-active GBP, left some surprised by the inability of supply to weigh on basis.