Bonds - GBP
GBP Swaps: ASWs puzzle; Pain trades?
The gilt future remained higher in afternoon trading as risk-off sentiment supported global fixed income.
GBP Swaps: Data drags B/Es and RPI swaps; Old school beta
Breakevens and RPI swaps were both marked down in afternoon trading following lower-than-expected UK inflation data.
Basis Swaps: Apple’s herring rouge; Post-BT bounce
A day of hefty, but less-frantic-than-earlier-in-the-week, EUR issuance activity saw Apple in the spotlight with a sizeable issue.
GBP Swaps: Front end pinned; SONIA-BOR retreats
Election politics, rather than pure Brexit politics, started to exert itself on market direction today, steepening the gilt curve.
GBP Swaps: Longs to the slaughter
Traders were as stressed as the brains behind the LibDem ‘Remain’ strategy today as fears/hopes/expectations of a Brexit breakthrough went stellar.
Basis: SOFR mania; Italy whopper drives EUR/USD
An impressively busy day once more for new issuance saw the shadow of Italy’s $7bn 3-part cast over much of the curve.
GBP Swaps: 10s/30s steepeners gather pace
Persistent weakness in equity markets, which came despite a lack of obvious trigger, has finally coincided with lower yields.
Basis: 7y EUR popular; Cable rests; JPY focus
Tuesday ticked over quite nicely in cross-currency basis swaps, without anything happening to scare the horses too much. 7y EUR/USD is busy.