Bonds - GBP
GBP Swaps: Market adapting to BOE approach; LDI’s loss…
The new government’s salad days continue to yield unexpected fruit. In the gilt market it was linkers turn to for volatility. Is LDI over?
BOE feared £50bn long gilt fire sale, sets out aims of em...
The BOE says that it feared a £50bn long gilt fire sale last week and has set out more about the aims of its emergency QE programme.
Basis: QE or QT? That is the question…
The BOE's commendable attempt to cap the gilt market sell-off is unsettling basis swappers and flattening XCCY curves.
GBP Swaps: High yield gilts; Pulling the lever
The BOE accepted no offers again for a diminished pile of gilts today, with the curve selling off. Is the Bank adding vol now rather than subtracting?
GBP Swaps: Long end jumps again as BOE fails to show
If people hadn’t got the message yesterday, then they have today: the BOE is not going to buy gilts just because GEMMs offer them up for sale.
Basis: Divergence reversed after gilt flight; Gamma bids
The biggest move of the last few days in cross-currency bases has been in front-ends, but the real action has been in 10y and longer.
GBP Swaps: Minimalist buyback takes edge off bull steepen...
Another day of hectic volatility in gilts saw the front end rally hard, before the BOE's minimalist buyback curbed it.
GBP Swaps: Grey end to black week; Curve, LDI and leverage
A glorious week for new PM Truss ends in grey skies while rain provides the only liquidity to be found in London. Traders are glum. BofA eyes LDI.
GBP Swaps: Trussian roulette under fire; 30s/50s, 30y ASW...
While mysterious PM Truss emerged today to take flack for her gambling nature, traders saw some very faint signs of normalisation.
Basis: Year-end turn crashes front-end; Tighter JPY/USD?
Unlike recent gilt moves, a New Year turn collapse today in cross currency first breaks is not unprecedented. But only 2008 surpassed it.