Lukas Becker
Markets editor of https://t.co/iDafHVNxyZ and FX Markets
Articles
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1 week ago |
centralbanking.com | Lukas Becker |Christopher Jeffery |Daniel Hinge |Daniel Blackburn
Tweet Facebook LinkedIn Save this article Send to Print this page US Treasury dealers were close to hitting the panic button on the morning of Wednesday, April 9. A poorly received three-year note auction the previous day had raised serious questions about whether US Treasuries could provide a safe haven from the potential fallout of an escalating global trade war. Investors began dumping Treasuries at a rate that threatened to overwhelm dealer capacity.
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1 week ago |
risk.net | Lukas Becker
US Treasury dealers were close to hitting the panic button on the morning of Wednesday, April 9. A poorly received three-year note auction the previous day had raised serious questions about whether US Treasuries could provide a safe haven from the potential fallout of an escalating global trade war. Investors began dumping Treasuries at a rate that threatened to overwhelm dealer capacity.
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1 week ago |
risk.net | Lukas Becker
When US president Donald Trump's tariffs tanked markets and plunged the business world into chaos, large derivatives dealers resisted the urge to immediately hedge their exposures to corporate clients - a reflex reaction that has in the past led to a 'doom loop' of ever widening credit spreads and credit valuation adjustment (CVA) losses. The past two weeks played out differently.
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2 weeks ago |
centralbanking.com | Lukas Becker
Federal Reserve governor Michelle will reassert her commitment to exempting US Treasuries from the supplementary leverage ratio (SLR) at her nomination hearing before the Senate Banking Committee on April 10. A senior rates trader at a US bank described the proposed capital relief as a “no brainer” that could help stabilise a market that has faced serious dysfunction in the chaotic five trading days since US president Donald Trump unveiled his sweeping tariff plans on April 2. Bowman was nominated
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2 weeks ago |
risk.net | Lukas Becker
Federal Reserve governor Michelle will reassert her commitment to exempting US Treasuries from the supplementary leverage ratio (SLR) at her nomination hearing before the Senate Banking Committee on April 10. A senior rates trader at a US bank described the proposed capital relief as a "no brainer" that could help stabilise a market that has faced serious dysfunction in the chaotic five trading days since US president Donald Trump unveiled his sweeping tariff plans on April 2.
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Hedge funds that had entered forward volatility agreements (FVAs) to lock-in cheap FX vol bets on the US election are reaping the rewards as vol jumps ahead of next week's event. https://t.co/pEGT4fQWYo
Also new this morning: BNY says it will launch a 'done-away' cash Treasury and repo clearing service next year. On the repo side it plans to start with tri-party and move to bilateral soon after. https://t.co/cslJjog0wK
The popular CNY carry trade - buy onshore Chinese government bonds via cross-currency swap - was netting a 100bp pick-up over SOFR this year. But recent movements in cross-currency basis spreads has made the trade less attractive and led to unwinds. https://t.co/ShMQ8oOVwr