Fixed income
Insurers’ favourite credit rating becomes more expensive
US institutions face a dilemma: go up a rating and lose yield or go down a rating and increase risk
Inflation hedges jump, but US funds still have paying bias
Counterparty Radar: Total inflation-receiver positions hit $10.2bn in Q1; payer book was $16.7bn
Mizuho tries its hand in European rates
Japanese bank bets on handful of deep relationships to compete in crowded European market
UK tipped to take lead on consolidated tape provision
Fixed income focus could pip European Union in race to provide market data golden source
JP Morgan’s fixed income VAR dives 69%
Average trading VAR down 59% over the previous quarter
EC drafting proposal for derivatives consolidated tape
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
Asia moves: Deutsche appoints Asia-Pacific treasurer, Citi boosts Australian sales team, and more
Latest job news across the industry
Net losers? Benefits of clearing US Treasuries are cloudy
Practical obstacles and questionable netting benefits muddy the path to a clearing mandate, argues economist
The bond venue using blockchain technology to plug leaks
LedgerEdge trading system aims to stop prices moving against users requesting quotes in larger sizes
Invesco bets on new tech to refine its FX trading
Home-grown tool will improve order routing and execution strategies, asset manager believes
Traders say BoE green bond purchase scheme could sap liquidity
Updated plan could spike market volatility – harming not only brown bonds, say dealers
Some dealers are much cheaper than others; now you know who
New system will name the three cheapest dealers for liquid securities and show how much they cost
CDS trading remains stubbornly human
Buy-siders sceptical of benefits of algo execution for credit derivatives
Repo-linked renminbi floaters fail to excite investors
Muted demand dents China’s hope for repo fixing to become debt market’s benchmark of choice
ESG derivatives – From equity to fixed income, what next for this market?
The fast-evolving ESG derivatives market, how these products are helping investment strategies and expectations for market development.
CanDeal ideal: could Canada make a sea-change in e-trading?
E-trading firm aims to capture all Canada’s electronic fixed income trade, requiring a culture shift
People moves: new CRO at LCH, changes at Natixis investment bank, and more
Latest job changes across the industry
Developments in the EU bond market
Jutta Frey-Hartenberger and Lee Bartholomew of the Eurex fixed income product development team discuss the take-up and demand for support to mitigate unemployment risks in an emergency bonds and Next Generation European Union bonds among the investor…
Credit curves – Crucial in a crisis
The peak of the Covid-19 crisis in March 2020 underlined the need for superior data; when the tide goes out, the shortcomings of some datasets are cruelly exposed. Banks and asset managers will need to have confidence in the data fuelling their models…
Generating alpha – ETF appeal grows for Asia-focused investors
The Asia ETF Forum 2020 concluded with stimulating discussions among participants from the exchanged-traded funds (ETFs) industry. In this article, Hong Kong Exchanges and Clearing Limited summarises the topics covered in the forum, including…
FCMs to let clients offset swaps and futures margin at Eurex
Banks target Q2 support for client cross-margining following lengthy lobby effort from hedge funds
ETF options: the market’s latest credit hedge
Investors look to derivatives on fixed income exchange-traded funds to manage credit risk exposure
Majority of EU funds’ CDSs are ‘naked’ exposures
Of more than 4,000 CDS positions assessed by Esma researchers, 71% were uncovered