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Ice flow weathers geopolitics and supply storms
Talking Heads 2026: Network size and liquidity see exchange group through volatile times and novel products
How hedge funds ‘hooked’ on carry fuelled rates mayhem in Europe
Short-volatility traders with ‘weak hands’ may have created a market that breaks easily under stress
Banks peg range accrual coupons to CDS spreads
Morgan Stanley and BNP Paribas tie note coupon barriers to French sovereign and iTraxx Europe CDS spreads
NAIC proposal hints at wider scrutiny of insurer investments
US life insurers have pushed back on a proposed change to capital rules for asset-backed securities
Hedge funds target euro downside amid France unrest
Turmoil drives demand for EUR/USD exotics, pushing up back-end euro vols
Swap spread swings push US corporates to rethink locks
Volatile swap spreads have issuers weighing a shift from swap locks to costlier Treasury locks for pre-issuance hedges
Interest rates
Hedge funds shelved yen basis bet on US deal
Funds exited USD/JPY flatteners tied to Japan’s $550bn pledge and new funding may not revive the trade
Japan’s Great Repatriation? Don’t count on quick returns
Switch from Treasuries to JGBs by GPIF likely to be gradual, which may spell more bad news for hedge funds
Kalshi seeks CFTC approval for 10-year US Treasury perp
Extended review period for first-of-its-kind contract will run until November 29
Hedge funds sit out Treasury market volatility
Flattening of yield curve prompts traders to scale back steepeners
Counterparty Radar
Matchmaking and benchmarking for OTC derivatives
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Choppy Q1 precedes big Q2 for US rates books
Interest rate and inflation swaps hit notional records, filings show, while mutual funds pile into Euribor and Sonia swaptions
Foreign exchange
NDF algo innovation rises as internal matching builds
Banks bolster offerings with new EM pairs and improved execution quality, in bid to increase internalisation
How Quoniam boosted its sentiment strategy by adding an LLM
Upgraded system creates scores from more-informative forward-looking parts of news
Fund giants turbocharge Wells Fargo’s FX forwards book
US bank jumps from 12th to second in Q2 2026 dealer rankings as Pimco and Vanguard ramp up trading
Emerging markets options trading outpaces G10
Growth in EM options volumes between dealers and clients are nearly double that of G10 pairs
Canton: has Wall Street found its blockchain?
Network and privacy behind Digital Asset spin-off’s tilt at next-gen settlement
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