Bonds - USD

USD Swaps: Flatter; Extreme short?

The UST curve is flatter and higher ahead of some Fedspeak and the looming jobs data. BNPP's new index finds short positioning at an extreme.

USD Swaps: Haven steepening; JPM on SOFR spread drivers

Haven steepening pulled 10y USTs down to 1.415% before coming back. Ahead, banks look at how the the drivers for SOFR swap spreads differ vs LIBOR.

USD New Issues: Spreads widen; Tone tentative; $35bn

The past week saw the holiday as well as rocky conditions. Only $4.5bn priced. $35bn is forecast this week, but it is off to a tentative start.

USD New Issues: Update

An update of recent USD new issuance.

USD Swaps: Bear-steepening; WTI up; Spread, Fed views

The UST curve is bear-steepening after ECB comments hit the Bund. EDs are down again. Banks mull the outlook for spreads and the new Fed.

USD New Issues: After $56.5bn, holiday break expected

A hefty $56.5bn priced last week, over $20bn more than expected. With MTD already over $100bn, surveys expect a slowdown for the holiday week.

USD Swaps: Risk-on drives sluggish market; Fed talk

While Corona and inflation fears continue to slosh around, a low-conviction sell-off in USTs this morning is probably more to do with supply.

USD Swaps: TIPS high for a reason; Another Formosa

TIPS are high for a reason reckon banks as Treasury preps a 10y reopening. Elsewhere, another Formosa lands this week.

USD Swaps: Calm; Fed chatter; HF ups and downs; Formosas

Treasuries remain a touch steeper after the housing data. Fedwatchers discuss Biden's pick. Another Formosa emerges. Hedge funds' fortunes diverge.

USD New Issues: Bevy of issuers to start; $35bn expected

$25bn priced in IG last week, and volumes are expected to pick up with $35bn anticipated. Today sees a strong start.