The top left of the sterling vol grid is sold, 1m remains well supported, while vega bids confound traders.
Bund swap spreads fail to re-widen despite the risk-off backdrop. DB looks at ALM and negative convexity.
ZF Europe Finance is working on a four-part EUR benchmark deal. Also pricing are ADB, Credit Agricole, LBP Home Loan and UBI Banca.
Euro-denominated MTNs emerging over the last week or so included re-packs, a lone CMS structure, and some long vanilla.
Traders reported a pretty flat day in EUR vol despite Brexit deal hopes, with one trader explaining that “we’re all watching the underlying.”
China and the US combined are much, much more important than the EU and UK in economic terms, but traders, said minds are fixed on Brexit.
JP Morgan's co-head of EMEA rates, Tom Prickett, discusses recent developments in €STR trading and the prospects for the nascent benchmark.
Carnival, the world’s largest leisure travel company, has mandated BAML, BNPP, Citi, GS and NatWest for a EUR 10y.
Trade talk and oil lift market with breakevens and inflation swaps all marked higher
An impressively busy day once more for new issuance saw the shadow of Italy’s $7bn 3-part cast over much of the curve.