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EUR MTNs: Callables keep coming

New structured euro issuance is dominated by callables, with JP Morgan the most active over the past week.

EUR Vol: Vols surge but offers appear

No surprises to see vols surge as yields plunged, although offers have at least appeared say traders. SG reckons the ULC could be ripe for repricing.

USD Swaps: Can’t escape corona; Is labor market deteriora...

One man’s fruit is another man’s poison, so it’s no surprise that good corona news in China is being ignored in favour of bad corona news elsewhere.

EUR Swaps: Curve smashed as 30y yield tumbles; Dealers wa...

Very aggressive long-end receiving smashes the curve and dealers warn of more to come. In research, Commerz says forced receiving is back.

JPY Swaps: Inflation data curbs further flattening of 2s/...

10-year JPY swaps have been offered. However, satisfactory domestic inflation data has helped limit further flattening of 2s/10s swaps.

AUD Swaps: 10-year given on spreading of coronavirus

AUD rates market is fimer as on growing number of COVID-19 cases outside of China’s borders. 10-year swaps have been offered.

USD Swaps: Formosas footprints; Discount window view

Covid-19 concerns continued to send UST yields lower with some seeing footprints of Formosas hedging at the back-end. Barclays' discount window view.

USDi: 30y TIPS auction defies risk-off sentiment

A sharp and abrupt Covid-19-driven risk-off move a mere hour before today’s $8bn 30y TIPS auction failed to ruin the reception.

USD Vol: Risk-off resurgence firms implieds

A resurgence in Covid-19-driven risk-off has sent rates careening lower and implieds firmer. Bof A looks at what to make of the hegemony of US assets.

Structured Notes: New deals update

Recent structured note activity in USD.

GBP Swaps: Auction struggle; EBRD SONIA innovation; Rate ...

More strong UK data proved a modestly unsupportive backdrop against which to sell gilts. And we look at the innovative SONIA EBRD FRN.

Basis: Stable cable as supras break from binge

The EBRD has been conspicuous by its presence in the cross-border bond issuance market this week, as fellow supranational borrowers retreat.

USD Swaps: 30y spreads tighter; TIPS auction views

Long Treasuries shrugged off a stronger Philly Fed survey today with the rally putting pressure on spreads. Ahead, a 30y TIPS auction looms.

EUR Swaps: Peripherals on the rise; Eiopa on UFR drag

The 2025 SPGB sale today was small but nonetheless did nothing to undermine the rise of the non-core EGB market. Swappers discuss low-for-long.

EUR New issues pipeline: Utilities on the move

Utility companies and covered bond issuers led a mixed pack of borrowers in EUR today.

CNY Swaps: PBOC cuts loan rates; 5y NDIRS bid

The PBOC cut 1- and 5-year loan prime rates today, triggering thoughts about a better prospect and thus some paying in 5-year NDIRS.

JPY Swaps: Chinese easing policy deters JPY bid

JGB future is weaker today but swaps have seen limited paying after easing measures from the Chinese central bank.

Asia-Pacific MTNs: AUD callables; JPY Uridashis

Listing of structured and some vanilla Asia-Pacific bonds issued over the past week by non-government borrowers.

AUD Swaps: Rates dip after jobs report; Kanga flow

AUD rates are lower after the jobs report showed the unemployment rate rose in January. BNG and Emirates have issued Kangaroo Bonds and KfW is next.

USD Swaps: Virus fears thrown to the wind; Benchmark refo...

Virus fears were thrown to the wind today but UST yields didn’t cover much ground. Barclays’ benchmark reform survey results.