Will Pagano departure lead Citi to reset EM credit trading approach?
The departure of Marc Pagano, Citi’s managing director for emerging markets credit trading, has raised mixed feelings amongst buy-side traders. Although one in a...
Ratings & Analysis: Fitch: US bank regulators converging with “informal alignments”
Executive actions have accelerated regulatory consolidation and centralisation between federal US bank regulators, according to Fitch Ratings.
These informal alignments, driven by executive orders rather...
Banks buy into LSEG’s Post Trade Solutions
Banks using LSEG’s post-trade solutions have taken a 20% stake in the business, paying £170 million for the shares.
The transaction is expected to close...
TransFICC: The increasing importance of data centres in fixed income
As the fixed income market becomes more electronic, we are seeing an increasing number of firms connecting to data centres around the world. The DESK...
When banks go bust holding boring bonds
**This article will appear in full in the next issue of The DESK**
Government bonds are described as a 'risk-free' instrument, on the basis that...
SEC fines MIMBT $79.8m for overvaluing 4,900 CMOs
Investment adviser Macquarie Investment Management Business Trust (MIMBT) has been fined US$79.8 million for overvaluing around 4,900 largely illiquid collateralised mortgage obligations (CMOs).
The US...
Fidelity International: “A new era for interest rates”
Steve Ellis, global chief investment officer for fixed income at Fidelity International has outlined dynamics which could affect debt markets in 2023.
“Fixed income markets...
Central Banks should backstop hedge funds arbitraging the basis trade, new Brookings Paper suggests
A research paper to be presented at the Brookings Papers on Economic Activity (BPEA) conference on 28 March, argues that central banks, particularly the...
EC fines Bank of America Merrill Lynch, Crédit Agricole, and Credit Suisse for bond...
The European Commission (EC) has fined Bank of America Merrill Lynch, Crédit Agricole, and Credit Suisse €28.5 million for breaching EU antitrust rules, as...
Best practice in credit TCA measures
The need to optimise execution quality is increased as buy-side firms seek to optimise all-to-all trading, and therefore price making, in credit. Transaction cost...
Bond funds inflows close Q1 2024 at 20 year highs
Bond funds saw record inflows in Q1 2024, according to EFAMA’s International Quarterly Statistical Release, reaching their highest levels since 2004.
Bond funds inflows were...
CME Group shutters proprietary chat service, onboards Symphony
CME Group has replaced its proprietary CME Chat messaging service with Symphony’s communications platform.
The transition was announced to clients on 25 February, and went...
