Basis -
EUR Swaps: Risk sentiment worsens into weekend
Risk sentiment continued to curdle today with banking stocks posting losses.
USD Swaps: Bank CDS the latest attack vector as dollar de...
Bank CDS seem to be the latest attack vector with even Euro GSIB names sharply wider. Demand for expensive dollars has jumped and SOFRs are +30 ticks.
Basis: Crisis pricing melting away; Deutsche eyes USD hav...
Panic is melting away like Alpine snow as last night's equinox hints at a new season of hope. Deutsche examines the lack of a USD flight-to-quality.
Basis: JPY/USD trumps other movers ahead of ECB
The see-sawing cross-currency basis market continues to rise and fall on sentiment regarding floundering banks. The ECB is awaited with interest.
Basis: Flash flood? Market eyes rapid normalisation
Signs of rapid normalisation abound in basis as market participants dry out after what may prove to be just a flash flood.
Basis: Strong EUR supply, but market pretty calm
Perhaps due to Fed and NFP-related distractions, USD issuance has slowed this week, leaving EUR on top. But while EUR/USD is offered, flows are light.
Basis: Ticking over despite Powell; SSAs
Any expectations that new issuance might be on hold today ahead of Powell were largely dashed, leading to choppy basis trading. Citi eyes SSAs.
EUR New Issues: EU €6bn 11y draws orders above €45bn
European Union is pricing €6bn 11y with latest orders above €45bn.
Basis: USD glut drives supply as cable comes in from the ...
The cross-currency swap market has kept a-ticking over this week, driven by strong USD demand. GBP eyes a warmer future.
Basis: Bank of England, English banks, dominate dollars
A busy session in the cross-currency basis market has seen interest in USD supply ramp up exponentially this week, especially from the City of London.