Markets
Latest Markets
Iran sell-off wipes out dispersion profits
Popular indexes down 5% in March, despite low realised correlation; some short bets see gains
Hedge funds retreat to sidelines in euro steepeners
Rate hike repricing and stop-losses have gutted positioning in once-dominant 10s30s bet
From pink tickets to Python: Toby Baker on 40 years in FX
T Rowe Price’s departing FX head reflects on the pain points and keys to success for a modern buy-side trading desk
YCC, carry trades and the changing role of the yen
Marcello Minenna argues that as the BoJ adjusts its policy regime, changes in carry positioning are increasing the instability of the correlation between exchange rates and yield differentials
Franklin Templeton closes $5bn yen options book
Counterparty Radar: Asset manager’s bets on USD/JPY soured as yen weakened through Q4
‘A new model’: Marex’s plan to take on the big banks
Non-bank challenger stepping into new businesses and new markets as incumbents retrench
Interest rates
Hedge funds stopped out on euro steepener amid Iran conflict
Gas price rises flattened 10s30s euro swap spread, forcing investors to cut positions
Opinions split on EU bond balance sheet squeeze
Some say QT and issuance wave will hamper intermediation; others say dealers nimble enough to respond
Repo stress drove 2025 SOFR-to-fed funds swap pivot
SOFR OIS volumes slipped to almost half of fed funds activity during September repo spikes
Market warns BoE against blanket mandatory gilt repo clearing
Official says proposals receiving push-back on one-size-fits-all approach and limited netting benefits
Counterparty Radar
Matchmaking and benchmarking for OTC derivatives
Counterparty Radar is based on position data from around 20,000 US mutual funds and ETFs, rolled up to the manager level – it shows the OTC derivatives they have on their books, and who they traded them with, providing unique insights into an important market segment. More info
Franklin Templeton closes $5bn yen options book
Counterparty Radar: Asset manager’s bets on USD/JPY soured as yen weakened through Q4
Foreign exchange
PBoC reserve ratio cut spurs short-term FX hedging
Removal of 20% forex risk rule drives exporters towards options and onshore forwards
Pimco slashes short dollar forwards at year-end
Counterparty Radar: EUR/USD cuts drive $86.5 billion reduction
Can AI be the great equaliser in e-FX?
FX market-makers see real benefits for agentic AI in code generation and data analysis
Wheels in motion: AB fully automates forex trade execution
US fund manager claims to save time and money with hands-free trading
CME outage sparks FX soul search
How November’s halt exposed fragile wiring of new futures-led market structure
Sponsored content
About
These articles were paid for by contributing third parties. Click here for more information on content funding.
Digital asset risk: ICR for tokenised fund infrastructure
Fireside chat: Advancing FX clearing for safer settlement
Integration strengthens e-trading in persistently volatile markets
Smarter margin. Clearer insight. Diversify liquidity.
The changing shape of variation margin collateral
