Euro, Swiss swaps trading jump on rate hike chatter
Highest weekly volumes since at least 2020 as ECB and SNB gear up for policy change
Trading in euro and Swiss franc interest rate swaps referencing overnight rates reached record highs last week, as the European Central Bank (ECB) prepares to raise its benchmark rate for the first time in more than a decade.
Swaps referencing mainly the euro short-term rate (€STR) totalled €1.2 trillion ($1.25 trillion) notional for the week ending June 12, according to figures from the Depository
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