Pre-migration untagged articles

Dollar swap spreads traded directionally this week, widening with each sell-off in the Treasury market and narrowing with every rally.

In spite of slightly weaker than expected flows this week in the EuroCP market, outstandings almost touched the $500bn mark at the end of trading yesterday (Thursday), an increase of about $20bn from last week's closing level of $477bn.

Bankers reported increased activity in the EuroMTN this week, though volumes still remain disappointing for the time of year.

The covered bond market absorbed another Eu8.5bn of paper this week after digesting Eu12bn a week ago.

It was another week of prodigious bond issuance in euros, a great deal of which was swapped out of fixed rate.

"Why are you never flattering about CSFB?" we were asked. No, it is not true that we have deliberately hounded Credit Suisse First Boston in the past, but it is probably fair to say that we have occasionally poured salt on the firm's tail.

European default indices backed off the wides at the end of the week as structured business began to pile up, said traders in London.