Interest rate swaps
Hedge funds stopped out on euro steepener amid Iran conflict
Gas price rises flattened 10s30s euro swap spread, forcing investors to cut positions
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
CaixaBank lifts structural deposit hedges to two-year high
Receiver swap notional climbs to €68bn as bank guards NII
Fannie, Freddie mortgage buying unlikely to drive rates
Adding $200 billion of MBSs in a $9 trillion market won’t revive old hedging footprint
Deutsche Bank returns to US swaps client clearing
Re-entry comes after Basel III endgame proposals sparked capacity concerns among global clients
MTS eyes 2027 launch for dealer-to-client swaps trading
Plans for US Sef licence could address missing piece in defunct WeMatch swaps tie-up
Hopes rise for EU re-entry to UK swaps market
EC says discussions on draft decision softening derivatives trading obligation are ‘advanced’
Japan’s yen swaps go global
JSCC isn’t just clearing swaps, it is clearing the way for the next stage of Japan’s financial evolution
Hawkish RBA comments wrong-foot Aussie dollar rates traders
Governor Bullock’s unexpected rate hike talk led to stop-outs and losses
Hedge fund holdouts boost euro steepener bets into year-end
After some investors took profits in September, those that stayed in the trade are now doubling down
Dutch pensions weigh hedge unwinds ahead of transition
As January 1 nears, Dutch pension funds consider unwind timing to avoid rush to the exit in thin year-end liquidity
Derivatives house of the year: Citi
Risk Awards 2026: Rev up, RWAs down, as US bank gets back on track (with added XiNG and XiP)
Hedge funds cut BoJ bets after torrid year in yen rates
Dealers see lighter positioning after shock October election saw more than $300m of losses, compounding April’s pain
Hong Kong regulator exploring Southbound Swap Connect
Discussions on Southbound route for swaps trading follows surge in Northbound activity
US hedge funds eyeing JSCC after regulations eased
FCMs see strong interest and expect funds to start clearing yen swaps before year-end
Industry groups call on EC to delay foreign CCP reporting
Trade bodies seek to prevent late-running rules causing duplicated implementation projects
How US hedge funds won big on permission to clear at JSCC
But CFTC no-action letter won’t allow netting of Japanese trades with those cleared at US FCMs
Steepeners whipsawed by Dutch pension scheme shifts
Long-end euro rate flows thrown off course by piecemeal updates on transition to defined contribution system
Goldman’s Houghton on Asia’s watchful bondholders
Talking Heads 2025: Fed independence and debt concerns could fuel new moves away from US debt, says Apac Ficc co-head
US banks’ cash holdings jump $79 billion in Q2
Cash reserves up 4%, in biggest rise since 2023
Steepener exits leave traders in search of direction
Uncertainty clouds US rates market as hedge funds pare back steepener positions