Latest News

USD Swaps: 10y 100-day MAVG eyed; Follow through?

The strong bear steepening threw markets for a loop and sources wonder, what if any follow through, may come as the 10y rests at the 100-day MAVG.

USDi: BEs’ newfound attitude supports 10y TIPS auction

BEs adopted a newfound attitude after the Fed ruined the day yesterday, lending solid support to today’s $14bn 10y TIPS reopening.

USD Vol: Gamma jumps with realizeds; Faded

Gamma was strongly bid with the jump in realized volatility amid today's strong bear steepening rate move. However, some offers have come in since.

EURi: Long forwards break 2% after 30y lifted; BTPei talk

Gains for the long end of the euro inflation curve following a 30y lift took forwards above 2%. Ahead, dealers are mostly positive about the BTPei.

Structured Notes: New deals update

Recent structured note activity in USD.

GBP Swaps: Big MPC reaction built on sand?

Swappers take stock after the GBP fixed income market took its heaviest non-Covid hit in a long time as fears of a Nov hike materialised.

USD Swaps: Bear steepening roars; 10y TIPS on deck; More ...

USTs are bear steepening in the wake of yesterday’s FOMC meeting ahead of today’s $14bn 10y TIPS re-opening. BofA’s FOMC view.

Basis: ESTR-SOFR on the back foot as other RFRs post wins

Day Three in the RFR house and signs of dissent are emerging. EURIBOR-LIBOR seems to be swimming against the tide.

Non-linear SOFR First imminent - Are dealers ready?

The deadline for making non-linear products 'SOFR First' is imminent but are dealers - as well as brokers and end-users - ready for the switch?

USD Swaps: Hawks grow; Spreads wider; Fed reactions

The BOE and the Norges Bank added their cries to the hawks' chorus today. Banks give their reaction to the FOMC. Swap spreads are widerning

EUR Swaps: FOMC, BOE and China tug at market; 3s6s revers...

A slightly twitchy Bund market last saw its benchmark yield skipping 3.4bps higher after the FOMC and BOE, amid a dearth of domestic drivers.

EUR New issues: Calmer after storm

After a heavy day of issuance on Wednesday, sellers of euro bonds took a breather today, with honourable exceptions from a global spread of names.

CNY Swaps: 5y better bid as Evergrande price spikes; 1s/5...

The spike in the share price of Evergrande saw slightly better paying in 5-year, which led to a steeper 1s/5s NDIRS. Liquidity strain has eased a tad.

Asia-Pacific MTNs: Callables; Zeros; Kangas

Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.

AUD Swaps: Flatter curve; RBA wary of housing risks

The AUD curve is fatter after hawkish Fed comments. The RBA is monitoring housing market risks. Monex issued a small Uridashi Bond.

USDi: Fed’s more decisive taper talk scares BEs lower; 10...

The Fed/Powell’s more decisive taper talk at today’s FOMC decision scared BEs lower amid better RY selling. 10y TIPS auction now eyed.

USD Swaps: Powell flashes hawkishly; Curve pancakes

Powell gives an end date for tapering to mid next year. Sources wonder if the curve move has legs, considering the distance already covered.

USD Vol: Strong right to left move post-FOMC

The left side has popped higher while the right side was dipping in even prior to the FOMC. Post FOMC sources see some selling into the left side pop.

USD Swaps: Buy the dip prevails again; Hawkish FOMC surpr...

‘Buy the dip’ has prevailed again as equities are moving higher while USTs are little changed ahead of today’s potentially hawkish FOMC, JPM believes.

EUR Swaps: EONIA-BOR wider - more expected; ASW tighter o...

Swappers discuss the widening in EONIA-BOR and 3s6s as some banks see more to come. Heavy new issuance in euros weighs on long-dated asset swaps.