Bonds
UK bank funding costs spike in Q1 – BoE
Total term debt issuance is around 60% higher this year to date than at the same points in 2016 and 2017
CPI bonds set for growth, say dealers
Double issuance sparks hopes for inflation-linked swap market
Podcast: Richard Martin on EM debt, copulas, machine learning
Quant sceptical of machine learning algos and black boxes
Emerging market corporate bonds as first-to-default baskets
Modified Merton model offers insights on EM corporate debt
EIB shrugs off term RFR worries with Sonia bond plan
Issuer to use daily compounded, backward-looking rate with time lag for sterling benchmark
Modelling correlation: from zig-zag to zig-zig
Research is starting to show the stock-bond link in a new light
Buy-side modellers seek ‘Holy Grail’ of investing
When stocks and bonds fell in tandem this year, it sparked a debate about whether a lasting regime shift could be predicted
Citi largest counterparty for Templeton currency hedges
Citi accounted for 23% of outstanding forwards at end-March
European investment fund growth slows
Bond fund growth rate falls from 10.6% to 8.2% quarter-on-quarter
Duelling repack platforms find common ground
Standard documentation initiative mulls shared SPV model as founders seek to join rival
Dodge & Cox turns to MBS as Treasury yields rise
Income Fund grows securitised allocations from 36.1% to 39.7%
Reform fails to solve collateral woes in Korea
Korean swaps users wary of collateral reuse, leaving dealers with LCR burden
Libor death threatens to blow hole in hedges
Isda AGM: BlackRock, Fed stress need for fallbacks to marry up across rates universe
Rising rates hit Chubb's portfolio
US insurer posts $1 billion in realised and unrealised losses
Morgan Stanley expands long-term debt issuance
Outstanding long-term debt jumps 12% year-on-year
Rising yields prompt China banks to up loan-loss coverage
Domestic and foreign lenders reassessing loan books and tweaking hedging strategies
Mifid transparency has failed so far, say traders
Poor quality, inaccessible data and a lack of instruments covered undermine use case
Regulatory merger keeps China on course for deleveraging
Combination of banking and insurance regulators offers opportunity to co-ordinate debt reduction measures
The DIY approach to China bond investing
Lack of international ratings means foreign investors will need research resources of their own
China’s Bond Connect set to remove trading obstacles
Launch of delivery versus payment and block allocation should stimulate onshore hedging as well
Platforms win small on Mifid day one
Some dealers stopped quoting bilaterally on smaller bond trades
Blackstone-Hovnanian CDS deal revives credit rules debate
Rumoured triggering-for-financing arrangement sparks calls for more legal protection for sellers