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Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
The derivatives market gathered in London on Thursday night to celebrate its leading players
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A stronger than expected Chinese trade report has backed an improvement in risk sentiment and paying across the CNY swap curve. Short-end long positions have been trimmed ahead of price data on Tuesday but the 1s/10s curve has steepened on the long-end sell-off, writes Deirdre Yeung of Total Derivatives. -
Credit investors will remember the summer of 2012 as the turning point of the eurozone sovereign crisis. Mario Draghi’s “whatever it takes” intervention caused a decisive shift in sentiment and triggered a long rally that has lasted to this day.
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Sergio Ermotti, UBS Group CEO, was widely critical of how the global financial regulatory framework has evolved, when he spoke at a panel event at the Institute of International Finance spring meeting in London on Wednesday.
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The Markit iTraxx Senior Financials index tightened 4 basis points to 68bps on Thursday after the European Central Bank cut interest rates to combat low inflation and drive growth in the Eurozone. The move by the central bank followed increased flow in the index with hedge funds buying receivers and selling payers on the underlying.
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Investors were tapping short-dated options on the euro against the dollar ahead of the much-anticipated European Central Bank meeting on Thursday, pushing volatility higher on the pair. However, some investors were caught out following interest rate cuts from the ECB, resulting in decreased vols and spot consolidating after a brief decline.
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Edward Smalley, iTraxx options trader at Barclays in London, has left the firm.
