Swaps - BASIS SWAPS
Basis: Front-end in play amid Fed vs ECB trades
A lack of issuance and a hawkish Fed saw trading focus on 1y-5y Elsewhere, a herd of Canadians has failed to attract imitators and ESMA likes ESTR.
EUR Swaps: Steeper long-end; Mixed ASW flows; WG on EURIB...
The euro long-end is steeper amid supply while ASW flows are mixed. Minutes from ESMA RFR WG meetings reveal mixed views on EURIBOR XCCY.
EUR New Issues: CPPIB, SocGen, Thames Water
Among the issuers working on new euro deals are Canada's CPPIB, Societe Generale and Thames Water.
EUR New issues: Thames Water ahead as flow slows
Friday sees a pause in the torrent of euro new issues after a week that included the largest covered bond since 2006, a 5y from Bank of Montreal
Basis: Cable awaits end of playtime; HKD/USD breakthrough
A preponderance of basis-swappable GBP new issuance has added to a degree of stasis in the EUR/USD basis. RFRs are going OK. But not great.
EUR New Issues: Austria and Greece syndications
Austria and Greece are the latest sovereigns to launch new syndications.
Basis: Cable deals continue to cascade; Canadians cluster
Another day, another session in the basis swaps market dominated by USD issuance by non-US borrowers but extremely well-supported by GBP supply.
EUR Swaps: 5y interest; More supply; 3s6s bid
European fixed income is weaker and euro traders discuss recent 5y interest, hefty supply and lingering 3s6s bids.
EUR New issues: ABN, KBC, LBBW, NRW.Bank, Scotia
Another busy Monday sessions sees several financials working on new euro deals.
Basis: GBP on rampage as perfect storm whips issuers
SSA issuers discuss the current sweet spot for short dated sterling deals with BNG and AIIB the latest names to print.