Basic Swaps

Basis: Cable bid; HF flows in SONIA-SOFR not enough

Issues in non-USD are not sufficient to absorb the strong bids from asset swappers with USDs to burn. Elsewhere traders eye SONIA-SOFR flows.

USD Swaps: Flatter; Bank bond issuance assessed

As traders in Europe struggle with spluttering feeds USTs are bull-flattening despite an OK performance by risky assets.