Swaps - USD

USD Swaps: Rally takes flight, but fast money fades; Payi...

USTs rallied into double digits, with the 10y note yield hitting 3.40%. Fast money was seen fading the rally, sources highlight, and spreads widened.

USD Swaps: Putin assists bond rally; If FCI easing, polic...

USTs continue to rally with Putin headlines adding an FTQ aspect to today’s bid. BofA cautions that FCI easing means Fed policy is too loose.

USD Swaps: USTs gain amid risk-off tone; Bond bull's back

Treasuries are rallying as risk off weakens stock futures again following China's rushed shift in Covid policy. Ahead, a bond bull returns for 2023.

USD Swaps: Sobering data impact persisting; USTs back in ...

USTs are narrowly mixed while equities are lower again as the impact of recent sobering data persists. DB sees USTs in the black in 2023.

USD Swaps: Bonds, equities both sold; 10y spread wideners

USTs dove lower, led by the front end and belly. The swap spread curve steepened versus the UST bear flattening. Barclays likes 10y spread wideners.

USD New Issues: First issuance for December arrives

Last week saw $22.15bn price in IG (ex-SSA), slightly above expectations. The supply was front loaded and December finally sees the first supply today

USD Swaps: Future expectations trump data as market calms

The short-lived response to NFP and wages data on Friday suggested a market fatigue that this morning has done little to dispel.

USD Swaps: NFP rattles but markets are on the mends; Bond...

This morning’s strong NFP release initially rattled USTs and equities but both are now well-off earlier lows. SG sees UST rally as premature.

USD Swaps: Steeper, wider; Real yield outperformance?

The UST curve is steeper and spreads are wider led by the long end ahead of the jobs data. Banks gauge the merits of USD-EUR real rate tighteners.

USD Swaps: Grinding bull flattening rally into NFP

The UST rally roared on, despite incredulity from several corners and thus likely feeding the move. NFP tomorrow could provide a does of reality.