Basis swap opens up euro curve at five years

euros fotolia 230
By Lewis McLellan
17 May 2018

The euro market got off to a fine start this week as a supranational rarely seen in euros appeared at five years and a mainstay of the market pulled off another successful trade. But later in the week, cracks began to show.

Although typically a dollar borrower, the Asian Development Bank selected euros for its five year deal on Tuesday. BNP Paribas, Citi, Crédit Agricole and Goldman Sachs ran the books, setting the spread at mid-swaps minus 22bp, 3bp-4bp wide of where bankers said KfW (which ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.