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The Bureau of Labor Statistics said on September 5 that the U.S. economy had added 142,000 jobs in August - an eight-month low - despite a falling unemployment rate of 6.1%.
Geopolitical risks and soft economic data were a recurring theme in September. Tensions in the Middle East and Ukraine intensified, while in Europe, Scotland voted in a referendum to remain in the United Kingdom with a majority of 55% to 45%.
Compression has become a topic du jour for the financial technology trade press. Wall Street & Technology recently reported that compression-style trades have “skyrocketed,” while GlobalCapital inked a headline citing “compression usage spikes,” and Markets Media reported that “swap compressions hit $500 trillion.” Clearly, there’s a trend here.
The US and Europe are responsible for nearly all outstanding open positions in OTC derivatives worldwide. Why is compliance with confirmation mandates so onerous, and how can the industry move toward more timely confirmations?
The Federal Reserve announced it would cut bond purchases by $10 billion to $25 billion following strong GDP numbers in July.
We’re excited to announce that Tradeweb has been named Best Fixed Income Trading Platform by Markets Media for the third year in a row!
On March 10, the European Central Bank announced a new package of monetary stimulus measures intended to avert deflation and boost economic growth in the euro area.
Forcing clearinghouses to back up their US Treasury positions with letters of credit backed by US financial institutions in US dollars seems silly.
The mid-yield of Greece’s 10-year benchmark bond, which will mature in February 2023, dropped below 8 per cent at today’s close for the first time since June 1, 2010. The bond’s yield fell 16.9 basis points to 7.89 per cent, while its mid price rose to 69.12 per cent.
Weighing in at 200,000 words, the CFTC’s final rules governing the reporting of swaps data transactions isn’t the easiest collection of information to digest. But like it or not, the documents are must-reads for many swaps market participants because they contain dozens of reporting compliance dates that will be phased-in over the course of the year. Thankfully, now there’s an abridged version of the highlights.