Swaps - BASIS SWAPS
Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.
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.
In a year of statistical firsts a flatter basis swaps curve will not earn a ‘Bong’ moment on the ITV news, but gamma flow is weighing heavily upon it.
The good news from the cross-currency basis swaps market today is that it is still open for business. Just. Nomura looks at offshore JGB demand.
Difficult trading conditions persisted as this most summery of weeks progressed. Squeeze risk is in danger of becoming a self-fulfilling prophecy.
Basis swappers, unsettled by the sudden shutdown of their market, are worried about how long this sudden arrival at the summer doldrums might last.
Cometh the hour, cometh the Canadian. An embarrassing lack of issuance as been partly filled by Canadians. Elsewhere, traders fear for Dim Sums.
Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past two weeks.
Nationwide BS, Bright Food Singapore and UniCredit target the 5-7y sector. A couple of names tap the longer-end of the curve.
Basis swappers described activity in the cross-currency market as quiet on a day of holidays and big picture trading.