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SRI

Top section

Top section

Heathrow lands in Swiss francs, Austria extends green curve

International borrowers dominate this week's flow in the currency
Gulf AT1 deluge will be a challenge, with or without drone strikes

Easing won't be easy for new Fed boss

Lower rates will need lower inflation — and an FOMC consensus

CLOs prop up loan prices, betting on short Iran war

Leveraged loan prices have rallied from their post-war dip, with CLO demand remaining strong despite subdued LBO activity
Gulf AT1 deluge will be a challenge, with or without drone strikes
Sub-sections
  • “There are decades when nothing happens; and there are weeks when decades happen.” So said Vladimir Lenin, although the founder of Soviet Russia probably didn’t write this with the capital markets in mind.
  • SSA
    Wild swings in the euro/dollar basis swap, and an unreliable interest rate swap complicated bond execution in the SSA market this week. While some liquidity has returned in rates, cross currency swaps are still behaving very strangely.
  • CLO managers and investors are facing a nearly unprecedented crisis in corporate credit, but sources say that while defaults loom, they are hopeful recovery rates will deliver the market from disaster.