Latest News

JPY Swaps: Data drives long-end bid; 2s/10s steeper

Domestic and overseas data has prompted better paying interest at the long-end of the JPY swap curve. 2s/10s swaps are steeper.

Asia-Pacific STNs: Callable zero; Kanga tap; JPY Uridashis

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

AUD Swaps: 5s/10s curve trade; SAFA 12y bond

The return of RBA bond purchases Wednesday triggered a mild AUD rates sell-off. A 5s/10s curve trade has been proposed. SAFA issued a AUD1bn 12y bond.

USDi: RY buys drive TIPS BEs higher; 5y richens more

TIPS BEs have driven higher in a flattening move led by the front end of the curve, and followed by continued 5y outperformance. RY buys are driving

USD New Issues: Update

Update on today's new issuance.

USD Vol: Formosa supply absorbed with barely a ripple

Vega barely budged despite two larger ZCs - from Citigroup and BMO. Recent trades in 5y10y and 10y10y were off the back of the supply.

GBP Swaps: Bear-steepening; Taper talk

Gilts joined in with global bear-steepening today as the US confirmed a big rise in long end supply. Elsewhere, the pace of BOE tapering is discussed.

Structured Notes: New deals update

Recent structured note activity in USD and EUR.

EUR MTNs: Another inflation-linked repack; Callables

Recent structured deals include another big inflation-linked repack, a century tap and a choice selection of callables.

USD Swaps: Refunding deluge; Record low coupons deter swa...

Bear steepening before the refunding announcement was not repudiated. Many issuers are staying in fixed due to the record low coupons.

USD Swaps: Steeper and tighter; SOFR; Formosas

The curve is steeper and spreads are in as risk assets gain ahead of the Treasury refunding announcement. Banks look at SOFR. More Formosas print.

EUR Swaps: ECB buying weighs; EURIBORs bounce; Decorrelat...

Traders attributed today’s steeper curve and bearish tone to thin summer markets and central bank buying rather than any correlation with stocks.

JPY Swaps: 10y USD spread too tight; Green bond

10y JPY-USD swap spread has tightened to a level that may soon trigger receiving in 10y JPY swaps. 20y saw light offered-side flow at the open.

AUD Swaps: Box edges up; RBA resumes bond purchases

Short AUD swap spreads are lower and the box has pushed above 1bp. The RBA left its rates targets unchanged and resumed its bond purchases today.

USDi: BE curve flattens; Long end underperforms further

The BE curve is flattening today, with intermediates maturities bettering long term BEs. Source see client driven inflows, interest in the 5y sector

USD New Issues: Update

Update of today's USD issuance pricings.

USD Vol: 3m expiries price in Election Day risk

3m expiries jumped 2.5 to 5.7 normals higher today, as the expiry now includes the Nov 3rd Election Day. Not much traded in 3m expiries, however.

Structured Notes: New deals update

Recent structured note activity in USD.

EURi: Oil lifts front end; Linker supply view

A bounce in oil prices from session lows helped to support the front of the euro inflation curve today. Ahead, banks mull linker issuance.

GBP Swaps: Global move supports pre-MPC rally

A day of strong moves in gilts either side of supply and demand bursts saw sterling fixed income follow the risk-off trend. Ahead of the MPC.