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USDi: Duration grab-a-thon leaves BEs squishy yet again

An outsized rally in nominals only served to compound the recent weakness in BEs as sellers continue to dominate.

USD Swaps: Rally takes flight, but fast money fades; Payi...

USTs rallied into double digits, with the 10y note yield hitting 3.40%. Fast money was seen fading the rally, sources highlight, and spreads widened.

USD Vol: 1y1y trades up; ULC receivers over

The ULC lifted higher in the second double digit move in rates this week, but this time, a rally. ULC skew trades, receivers over.

Structured Notes: New deals update

Recent structured note activity in USD.

EUR Swaps: Flattening resisted as Bund gains; AFT's plans...

Flattening was resisted today to leave euro 10s/30s a tad steeper at the close against a backdrop of risk-off gains for Bunds and an EU deal pricing.

USD Swaps: Putin assists bond rally; If FCI easing, polic...

USTs continue to rally with Putin headlines adding an FTQ aspect to today’s bid. BofA cautions that FCI easing means Fed policy is too loose.

GBP Swaps: Shock as linkers sell-off pre-auction, then ra...

This week of a thousand gilt sales continued today with emergency QT unwinds and a spooky linker auction. BNPP eyes QT in 2023.

USD Swaps: USTs gain amid risk-off tone; Bond bull's back

Treasuries are rallying as risk off weakens stock futures again following China's rushed shift in Covid policy. Ahead, a bond bull returns for 2023.

JPY Swaps: Bond future jumps; Domestic GDP eyed; 10s/20s ...

JGB future rallies hard after some negative news from the US. Players are eyeing for domestic GDP data and 10s/20s swaps are due for a correction.

AUD Swaps: 3y given after GDP; Box and Bills/SOFR seen st...

Weak domestic data prompted some 3y offers and 10y has been choppy. ANZ sees steeper box and Bills/SOFR.

USDi: BEs continue to leak lower amid ongoing risk-off tr...

BEs continued to leak lower as the ongoing risk-off trade is the wake of better data persisted and ahead of the FOMC.

USD Vol: Switches in ULC, skew; DTCC data grumbles

The vol surface is modestly higher with some switches in the ULC and in riskies. The DTCC SDR data feed changes have many reprogramming.

Structured Notes: New deals update

Recent structured note activity in USD.

GBP Swaps: Gilts survive; Emergency QT smooth; CTD talk

Another day, another avalanche of gilt sales. But the market seems to be rising to the challenge. Tradition looks at the CTD situation.

EURi: Front end slips on oil; Real yield bears

The front of the euro inflation curve slipped with oil prices and TIPS today. Further out the curve, some banks are bearish on real yields.

USD MTNs: ANZ, IADB, ADB 15y ZCs; SG Formosa

ZCs popped up after two weeks devoid of new activity, with ANZ, IADB, ADB also issuing 15y ZC callables. SocGen prints a floating 10y NC4 Formosa.

USD Swaps: Sobering data impact persisting; USTs back in ...

USTs are narrowly mixed while equities are lower again as the impact of recent sobering data persists. DB sees USTs in the black in 2023.

Basis: Issuance takes back seat; Supra 2023 for USD, GBP?

Basis traders took their lead from issuance today, and had a bit of a breather. Citi says pay JPY/USD, and EU supras may pounce on USD and GBP in '23.

EUR Swaps: Bunds steeper and wider as EU confirmed; TLTRO...

With the year's central bank climax looming, trade was thin and surprising as Bunds brushed off data to rally, and the EU confirmed a brace of bonds.

JPY Swaps: 7-10y zone steepens more after strong US data;...

Strong US data has prompted further steepening of the JPY swap curve to the 7- to 10-year zone. SMBC issued perpetual bonds in size.