Swaps - USD

USD Swaps: Belly crashes in post-FOMC; Long end spreads f...

The FOMC did what CPI could not, with a substantial repricing in the belly of the curve, sending 2s5s30s to new highs for the year. Spreads widened

USD Swaps: Holding pattern ahead of FOMC; No fireworks ex...

The financial landscape remains in a literal holding pattern ahead of today’s FOMC decision where no fireworks are expected by sources/dealers.

USD Swaps: Fed wait; Brevan stays short, grows, adds crypto

Traders and strategists await the Fed decision. Front FRA-OIS widens, Brevan increases its USD rates short and adds crypto.

BOE-FCA find near 100% support for 'SOFR First' as flows ...

The BOE-FCA today encouraged liquidity providers to switch to 'SOFR First' from July 26 after a survey found almost 100% support for the move.

USD Swaps: USTs a tad softer; Bearish into FOMC?

USTs remain a tad softer in the wake of today’s strong PPI print and JP Morgan favors leaning bearish USTs into tomorrow’s FOMC.

USD Swaps: PPI up; SOFR swap switch implications

Higher PPI but weaker retail sales left USTs a touch softer and B/Es wider. 3mL popped up but FRA-OIS is stable. Banks look at SOFR swap trading.

USD Swaps: Back to bear steepening; SOFR transition press...

UST bear steepened and moved rates close to pre-CPI squeeze levels. Swap spreads mostly narrowed. JPM sees SOFR OTC growth "somewhat challenged"

USD New Issues: $36bn week, but lower pace emerging

IG saw a heady start last week with over $23bn priced in Monday, but the rest of the week fizzled, with $36bn in total. Surveys see a slowdown ahead.

USD Swaps: Sight risk-on move as SOFR stories swarm

A modest risk-on move has failed to seed USTs move from a very tight range as the market awaits the Fed. SOFR stories are swarming.

USD Swaps: Some air being let out of UST rally; How much ...

Some air is finally being let out of the tires of this week’s stealthy, squeezy rally but some remain cautious to fade. JPM looks at impact of BSBY.