US Dollar (USD)

USDi: RY buys drive TIPS BEs higher; 5y richens more

TIPS BEs have driven higher in a flattening move led by the front end of the curve, and followed by continued 5y outperformance. RY buys are driving

USD New Issues: Update

Update on today's new issuance.

USD Vol: Formosa supply absorbed with barely a ripple

Vega barely budged despite two larger ZCs - from Citigroup and BMO. Recent trades in 5y10y and 10y10y were off the back of the supply.

USD Swaps: Refunding deluge; Record low coupons deter swa...

Bear steepening before the refunding announcement was not repudiated. Many issuers are staying in fixed due to the record low coupons.

USD Swaps: Steeper and tighter; SOFR; Formosas

The curve is steeper and spreads are in as risk assets gain ahead of the Treasury refunding announcement. Banks look at SOFR. More Formosas print.

USDi: BE curve flattens; Long end underperforms further

The BE curve is flattening today, with intermediates maturities bettering long term BEs. Source see client driven inflows, interest in the 5y sector

USD New Issues: Update

Update of today's USD issuance pricings.

USD Vol: 3m expiries price in Election Day risk

3m expiries jumped 2.5 to 5.7 normals higher today, as the expiry now includes the Nov 3rd Election Day. Not much traded in 3m expiries, however.

USD Swaps: Swerve back to flattener; Spreads leak wider

Yesterday’s bear steepening has been erased with today’s bull flattening amid see-saw price action.Swap spreads leak wider. JPM suggests bi-monthly

USD MTNs: Callables active into month-end; Citi CMS/Equity

Step-up and fixed callables saw a pick up in activity at month end. ZC flows were nearly a shut out. Citigroup launched several CMS related notes.