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USD Swaps: No sigh of relief for banks just yet; A steepe...
Banking concerns continue to linger, fueling more UST bull-steepening which Deutsche Bank sees persisting.
GBP Swaps: Gilts trim gains as GSIBs' CDS come back
Gilts pared gains from mid-morning as bank CDS came in from early wides, after pressure on a range of GSIB names began to ease.
EUR Swaps: Risk sentiment worsens into weekend
Risk sentiment continued to curdle today with banking stocks posting losses.
USD Swaps: Bank CDS the latest attack vector as dollar de...
Bank CDS seem to be the latest attack vector with even Euro GSIB names sharply wider. Demand for expensive dollars has jumped and SOFRs are +30 ticks.
JPY Swaps: Longs given as inflation cools; 2s/5s/10s swap...
The JPY rates market rallied after similar move in the USD market and following domestic inflation data. Longs were offered. 2s/5s/10s swaps idea.
AUD Swaps: 3-10y given after weak PMI; Rentenbank 2030 Ka...
Latest PMI data showing a contraction in March has backed offers in 3-10y AUD swaps. EFPs were mixed. Rentenbank 2030 Kanga tap.
USD Swaps: Herd-like trading; Regional banks pressured; B...
USTs bull steepened further and despite Yellen assurances, the regional banking sector remained weak. Swap spreads narrowed. IG supply $13.65bn
USDi: 10y TIPS bought, but not ripped off the shelves; BE...
While today’s $15bn 10y TIPS reopening weren’t ripped off the shelves, it was decent enough even though BEs sank into the close.
USD Vol: Offers lifted as vols rise once again
Gamma is lifting higher today, with trades in 1y10y and 5y10y a focus. 6m2y risk reversals trade a bit less negative, but still receivers over.
Structured Notes: New deals update
Recent structured note activity in USD and CAD.
EURi: Dovish central banks help real yields track the ral...
Central bank dovishness helped real yields and inflation to (almost) keep up with the rally in nominals according to traders today.
EUR Vol: Still pressured despite risk sentiment souring
Euro vols stayed pressured despite risk sentiment souring slightly.
GBP Swaps: Dovish hike helps to bull-steepen
A brace of dovish rate hikes helped gilts to forget yesterday's bad CPI and look instead to the possibility that today's could be the last.
USD Swaps: Steepener entrenched post-FOMC; 10y TIPS aucti...
USTs are mixed but the curve continues to steepen in the wake of yesterday’s FOMC decision. Dealers and sources preview today’s 10y TIPS auction.
EUR Swaps: Yields lower as sentiment sours
Euro fixed income rallied with sources blaming a combination of factors including a slight souring of sentiment.
Dealer Rankings reminder to vote: Who are the top liquidi...
The TD Dealer Rankings are underway. Please take a moment to vote for the top market makers in IRS, options, inflation, structured notes and basis.
USD Swaps: USTs slip; Banks on Fed's next moves
USTs have slipped from post-FOMC highs with yields 3-4bps higher as bank shares turn mixed. Ahead, banks look at the Fed's next moves.
JPY Swaps: BOJ to stay after dovish US Fed; Swaps given; ...
Dovish US Fed offered comfort to BOJ's ultra-loose policy, supporting demand for JPY rates. Swaps have been offered and the long-end was flatter.
AUD Swaps: Light 3-5y offers post-US Fed hike; EFPs in
AUD swaps have been offered after the 25bp US Fed hike and the dovish remarks. Trading activity has been light ahead of domestic inflation data.
Structured Notes: New deals update
Recent structured note activity in USD and EUR.