Articles by Rebecca Baird-Remba
AI bond deluge tests credit market’s appetite
Credit strategists say multi-year, poorly telegraphed AI issuance strains investor portfolios
Kalshi seeks CFTC approval for 10-year US Treasury perp
Extended review period for first-of-its-kind contract will run until November 29
Banks upgrade liquidity tests to cope with volatile world
Risk Live: Greater need to assess modern threats from technology transformation
Panellists warm to Treasury plan to lend TGA cash in repo
Goldman’s Chambers backs the idea, while JP Morgan and BNY execs say payoff depends on repo trading above IORB
Hedge funds sit out Treasury market volatility
Flattening of yield curve prompts traders to scale back steepeners
CME offers basis traders a leg up
New Treasury Link service ‘levels playing field’ in strategy dominated by high-speed players
Perps extend the menu to tempt TradFi diners
Expiry-less futures are spreading from bitcoin into gold, equities and FX. Institutions are watching, not buying
Repo tokens won’t be cleared. Or will they?
Uncertainty lingers over clearing status of tokenised Treasuries, with decision likely devolved to DTCC
Basis trade loses its bite as banks move in
Returns on popular hedge fund strategy dwindle to as little as three basis points, while dealers make use of softened capital rules to replicate the trade
MBS convexity hedging: back with a vengeance, or ghost story?
More bonds now sit with active hedgers but market is split on whether flows can move US rates again
Will Kalshi and Polymarket win over prop shops? Don’t bet on it.
A few market-makers – Jump Trading and Susquehanna among them – are dabbling in prediction markets but most are holding off due to patchy liquidity and legal uncertainty
Treasury basis trade loses its allure as returns shrink
Tight spreads and rising funding costs are pushing the cash-futures basis trade out of favour