Swaps - GBP

GBP Swaps: Dec21 parties like it's 1999; Oh me, Omicron

MPC hawk Saunders is having second thoughts (something to do with a global pandemic). Ignoring Covid restrictions, Dec21 is partying like it's 1999.

GBP Swaps: Unnerving macro trading; BNPP on 2025 ASW

Headline trading made for an unnerving day as swappers waited with baited breath to discover the true nature of their new master Omicron.

GBP Swaps: Long tail; Asset swap selling; BOE on SII

The UK may be an emerging market according to some dealers but at least there was plenty to keep them busy.

GBP Swaps: Long gilts squeezed in global flattening

Post-Powell curve flattening saw SONIA 2s/10s invert despite dovish BOE comments. At the long end the rally pulled 10s/30s and 30s/50s more negative.

GBP Swaps: Fat finger or pricing? RPI strangely calm

A brief plunge in the gilt enlivened nominals as global bonds retraced from Omicron highs today. RPI remained strangely calm throughout the turmoil.

GBP Swaps: Gilts excel in straight risk-off spree

Corona, ex-divs and supply/demand dynamics combined to ensure gilt outperformance today.

GBP Swaps: Flytrap sprung as investors caught in web of p...

Gilts outperformed on a thin but significant Thanksgiving that traders say will see some market participants offer no thanks whatsoever.

GBP Swaps: Inflation wings flap as front end jumps

Sterling swaps bear-steepened today and asset swaps richened. In inflation, the wings of the curve rose led by another surge at the front end.

GBP Swaps: IL73 goes ‘well’ despite glaring liquidity ga...

The syndicated sale of £1.1bn of the new 2073 went well in terms of demand and post-sale price action. But liquidity problems seemed to peak today.

GBP Swaps: Powell weakens; Syndi nears; 10s/30s/50s trade

Gilt yields closed higher as a global selloff picked up pace in the afternoon. Dealers are positioning for the upcoming linker syndication.