Swaps - USD
Narrowing pressures in the front end of the spread curve gathered further momentum into the afternoon, with the 2y spread down 1.75bps.
As the situation of non-fixing ICE Swap Rate fixings has persisted, IBA published feedback today that overwhelming calls to expand the data set.
USTs are bull-flattening as trade skeptics lurk while equities ride high. Front end spreads continue narrowing on little volume.
Swap spreads are mixed after Monday's tightening. As FRA/OIS continues to tighten, strategists at JPM look at potential drivers for the move.
Swap spreads narrowed, led by the front end as supply related flows and tighter FRA/OIS helped to pressure spreads. Barclays looks at the ISDA consult
The macro focus of the UST market remains unwavering, resulting in slightly higher yields. ISDA fails to rattle.
ISDA has confirmed that it will use a median estimate and a 5y lookback for LIBOR derivative fallbacks.
USTs are under modest pressure as trade optimism seeps back into the narrative. BAML gives a trade war progress report.
A four-day week of steady gains by USTs risks closing with a small reversal as overnight trading has seen a modest push higher in 10y yields.
NY Fed released a schedule of longer term repo operations going over the year end, with 3 operations of $15bn, $15bn and $25bn. USTs stayed higher.