Latest on Derivatives
LSEG to launch clearing for equity swaps
Turquoise, LCH tie-up comes as equity swaps attract regulatory scrutiny in wake of Archegos
UK pensions hit with £100m margin calls as gilts and sterling slide
At least three LDI managers request emergency capital as others consider unwinds to avoid default
Raiffeisen to rejoin Euribor panel, reversing exodus
Austrian bank’s return as benchmark contributor could be “turning point” for interbank rate, says administrator
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Quotes
Direct inflation swap trading certainly is not something that suits all market participants
Charlotte Oakes, Morgan Stanley
The markets are moving more quickly than the timescales to transfer liquid assets from one place to another
Simeon Willis, XPS Pensions Group
Primarily because of China’s zero-Covid policy, China rates are trading on their own path to that of US rates
Bruno Lettich, Standard Chartered
Editor's Choice
UK pensions hit with £100m margin calls as gilts and sterling slide
At least three LDI managers request emergency capital as others consider unwinds to avoid default
Big Figure
Japan basis blowout
A combination of surging inflation, a burst of rate hikes from central banks and a liquidity-starved market has disrupted even the simplest curve or futures-bond relationship. A glaring example is the blowout in the basis between 10-year Japanese government bonds and futures on June 15.
Read the full articleRegulation
Duffie: SEC plan heralds all-to-all Treasuries trading
Former Fed adviser welcomes long-advocated Treasuries clearing mandate
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