Basis -
Basis: EUR/USD offered; Swiss on a roll
Cross-currency basis swappers said that trading in their market today has been one of broad themes, with EUR/USD offered and CHF on a roll.
EUR New Issues: ALS, KfW, LSEG, ESB
ALS, KfW, LSEG and ESB are among the issuers working on new euro deals.
Basis: USD supply dries up, cable busy
After an outpouring of cross-market USD issues yesterday, that market has dried up. Cable flows are lively though.
Basis Swaps: ECB strikes! Front-ends dominate
As the ECB launches a surprise dovish strike, low issuance levels see short-end basis in focus.
Basis: New dawn starts to fade
The basis market was a little quieter today as cross-border bond issuance eased back a touch. One sector to buck that trend though was GBP
EUR New Issues: EU €5bn long 7y draws €35bn orderbook
EU is pricing €5bn long 7y with current orderbook above €35bn.
EUR New Issues: Coty, Kexim, Pernod Ricard
Coty Inc, Kexim and Pernod Ricard are among the issuers working on new euro deals.
EUR Swaps: Curve and spreads rebound
The swap curve re-steepened and euro spreads rebounded today as accounts re-positioned.
Industry groups warn on EUREX/LCH basis volatility
Industry groups warn of “large, volatile, and unpredictable price differences" in the EUREX/LCH basis if firms are forced to clear in the EU.
Basis: Cable flows keenly eyed; Slight pause
Cable flows were being eyed by cross-currency basis traders this week, while banks look at UK insurers' appetite for swapped debt.