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CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
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New contracts cannot yet be traded in US
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
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  • The sharp sell-off and big outflows from funds in Europe and the US have stripped the shine off the high yield bond market. But after a first half that featured record low pricing, net fund inflows and a wealth of looser structures, the pull-back should be seen as a useful return of discipline.
  • The European Parliament’s Economic and Monetary Affairs Committee has proposed that participating countries in the Financial Transaction Tax should be permitted to apply a higher rate of tax to what it determines risker over-the-counter derivatives trades, compared to exchange-traded derivatives, cash equities and bonds.
  • International corporates operating in mainland China are still shorting the U.S. dollar and going long the China offshore yuan via forwards, despite warnings that the USD/CNH carry trade could become less profitable.
  • The Japan Securities Clearing Corp. is aiming to begin its client clearing service for yen-denominated interest rate swaps in Q1 2014, according to market participants in the country.
  • ICICI Bank launched an offshore renminbi deal on June 18 hoping to net some of the strong demand that Caterpillar Financial Services Corporation received a day earlier for its dim sum.
  • For investors looking to position for a reversal of the recent sell-off in the belly of the sterling swap curve, strategists at Barclays recommend 3m*4y receiver spreads and 3m*(7y-30y) bull steepeners.