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Global sovereign bond yields rose for the second straight month in October amid mixed economic data. A notable exception to the widespread sell-off was Greece, whose 10-year government bond mid-yield dropped 23 basis points to 1.04%. The Greek economy is expected to grow by 2.1% in 2019, while the country recorded positive manufacturing activity in September.

The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.

My thoughts are with you and your loved ones during these unprecedented times. Like many of you, I am very concerned about the impact of the COVID-19 pandemic on our communities globally. We continue to monitor the situation closely and I want to take a moment to summarize what we are doing at Tradeweb to ensure that our people, network and technology continue to operate seamlessly as we manage through this crisis.

TABB Group recently released a report titled, “Can RFQ Quench the Buy Side’s Thirst for Options Liquidity?”  This paper explores the use of an RFQ system to reach out directly to multiple liquidity providers when trying to execute a large order.  The Head of Derivatives Research at TABB Group, Russell Rhoads, notes that RFQ systems offer benefits from both old school open outcry trading and electronic execution. 

While market volatility was much more subdued in April compared to March, 10-year government bond yields mostly declined, as central banks intervened with stimulus efforts to support economic recovery and stability

We’re excited to bring a completely new type of derivative to the electronic market, providing participants with the ability to bilaterally trade cross currency basis for GBP/USD, EUR/USD and GBP/EUR pairs.

Headline inflation in the U.S. hit 4.2% annualized in April, a level we’ve not seen since 2008. The data surprised economists, stoked rate fears and raised the specter of a market revolt by so-called “bond vigilantes”– fabled as sentinels of the U.S. Treasury market in times of increased government spending and borrowing. Since the late 1990s, Treasury Inflation-Protected Securities (TIPS) have provided an alternative to plain-vanilla Treasuries for re-positioning during times of rising inflation.

We are currently witnessing the most significant transformation in interest rate markets, if not all markets, that we will most likely see in our lifetimes. After almost four years of preparation for the cessation of LIBOR, the amount of work needed to be done at times seemed insurmountable. But now with only six months until the deadline in which LIBOR panels ceases for GBP, JPY, CHF and EUR and new risk transitions for USD markets we are on the final stretch. It is due to the tireless efforts and close collaboration between the official sector and market participants, both in the UK and across many other jurisdictions, that has enabled us to get where we are today.

Ten-year government bond yields mostly fell in June, with those for Australia dropping by more than 16 basis points to 1.48%.

The end of USD LIBOR is in sight. The seven-year process represents an incredible amount of work from the Alternative Reference Rate Committee (ARRC) and other working groups to replace previous LIBOR reference rates embedded in more than $200 trillion worth of financial contracts.