Euro/Dollar Implied Volatility Hits Two Year Low

  • 18 Feb 2002
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Euro/dollar one-year implied volatility hit a two-year low last week dropping to 10.4% on Wednesday from 10.7% a week earlier. Demand for options was low as traders cleared out their books ahead of the long weekend in the U.S., according to traders.

"The spot market is going to remain in a narrowing formation for the long term," said one options trader in New York. He added that after a rush on short-dated euro calls/dollar puts on Monday and Tuesday, the market saw little activity. "Volatility across the board has really slowed down. Sterling is moving in unison with the euro. I don't suspect we'll will see much more activity until after the holiday weekend," another trader noted.

Foreign exchange strategists are predicting the euro will continue to weaken and possibly go as low as USD0.8450 by the end of February before staring to regain its strength by mid-March. Andrew Chaveriat, v.p. of foreign exchange at BNP Paribas in New York, predicted the euro's decline will be short-lived and the currency could rally to USD0.8970 by August, before moving back down.

EUR/USD Spot & One-Year Implied Volatility

Source:JPMorgan

  • 18 Feb 2002

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 352,540.12 1323 9.09%
2 Bank of America Merrill Lynch 315,574.44 1093 8.13%
3 JPMorgan 314,826.88 1433 8.11%
4 Goldman Sachs 234,193.07 776 6.04%
5 Barclays 226,473.92 879 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,312.86 161 6.59%
2 Deutsche Bank 34,194.98 116 6.57%
3 Bank of America Merrill Lynch 31,113.25 94 5.98%
4 BNP Paribas 27,479.75 167 5.28%
5 SG Corporate & Investment Banking 23,982.83 136 4.61%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,536.02 78 8.91%
2 Morgan Stanley 16,323.54 83 7.44%
3 Citi 15,667.80 92 7.14%
4 UBS 15,208.47 58 6.94%
5 Goldman Sachs 13,487.36 72 6.15%