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EUR New Issues: EU SURE debut draws orders above €230bn

The EU launches its debut bond sale for the SURE programme

JPY Swaps: Superlong flow; Ultralong ASW richening

There has been trade in 20-30 year swaps ahead of a superlong JGB auction today. Ultralong asset swaps have richened significantly in recent weeks.

AUD Swaps: Box pushes wider; RBA easing

The AUD 3s/10s box spread has pushed to its widest point since early September. The RBA is expected to deliver rate cuts and more QE near term.

USD Swaps: SOFR/FF dips, then widens, but ends tighter ov...

The SOFR/FF basis dipped into the CME auction, with the biggest swings in the long end not surprisingly. The basis then bounced afterwards.

USD Vol: Right side gamma firms

Despite underwhelming realizeds, gamma on longer tails has firmed today. Big Bang comes and goes. Deutsche favors shorting 1y10y as short term risks

Structured Notes: New deals update

Recent structured note activity in USD and EUR.

EUR Vol: Fade the drop in 30y vega?

Strategists suggest fading the recent drop in 30y euro vega amid expectations callable supply will recede into year-end.

GBP Swaps: Late long-end flattening; Lightening risks

A run-of-the-mill risk-on move fizzled out early in the GBP markets, allowing the curve to bull-flatten late on. JPM looks to lighten GBP positions.

CME SOFR basis auction executed

The CME announced that it has successfully executed the SOFR Basis Swap Auction.

USD New Issues: FIGs dominate in slower week

The 2nd largest bank deal - BofA's $8.5bn 5-part - boosted a lackluster week of issuance. Lower volumes are expected this week.

EUR Swaps: Positioning and supply; SURE; Buxl ASW drivers

Traders discuss whether increased longs and more supply could hit Bunds.

USD Swaps: Bear-steepening resumes: CME’s Big Bang nears

The mood in US markets at the start of this new week was one of optimism regarding a stimulus breakthrough. Right now, eyes are on the CME big bang.

EUR New Issues: BofA, CFF, China Development Bank, ESM

The euro new issue pipeline has a dozen names expected to price in the near future

JPY Swaps: Long-dated forward trade idea

Long JPY swap spreads have ticked higher in calm trade. Long-dated forward swaps are considered cheap after the recent push higher.

AUD Swaps: 10s/30s curve flow; Nov rate cut expected

The AUD 10s/30s swap curve spread traded after the significant steepening seen in recent months. The RBA is expected to cut rates next month.

USDi: BEs ride the retail sails risk-on wave; 5y TIPS sup...

BEs reluctantly rode the risk on move spurred by better retail sale today amid an otherwise tranquil trade. Attention shifts to 5y TIPS auction.

USD Swaps: Risk on; Bear steepening; Big Bang at long last

USTs are bear steepening modestly as equities climb a wall of worries. More banks look into the Big Bang weekend.

EUR Swaps: SURE things

Bunds are in positive territory heading for the weekend, along with swaps. Bank mull SURE's upcoming bond issuance.

GBP Swaps: Cod woe batters Britain; Longs ebb and flow

Headlines from a rare anti-UK French PM has left negotiators needing to throw a sprat to catch a Macron. Gilts spiked on the Brexit news. 5y IRS flow.

USD Swaps: Big Bang view; Looser yield grab; Brevan long

The 10s/30s UST curve is unchanged as the latest global corona yield grab fades. Banks look at Big Bang weekend.