Government bonds
JP exec calls for derivatives margin changes
Move follows 13 significant margin breaches in 2018, with one breaching by as much as 245%
Direct streaming gains foothold in US Treasuries market
Cost savings drive dealers away from Clob model into alternative venues
'No-deal' Brexit would add risk weights to EU government bonds
HSBC has most sovereign exposures that could attract higher capital charges among big UK banks
Hedge funds turn to curve options for steepener trades
Previous bets on US interest rate curve flopped following unexpected flattening
Own goal: Mifid II reduces transparency in some EU markets
New rules replace voluntary arrangements in ETFs and Nordic bonds, fragmenting post-trade data
Munich Re adjusts sovereign portfolio
Reinsurer clips US, UK, Italy holdings
Generali weathers Italian bond turbulence
Solvency II SCR ratio dips to a still lofty 201% in the first half
BlueMountain hunts for mispricings in rates markets
As QE rolls off, Colin Teichholtz sees rich pickings for relative-value fixed-income strategies
Branching out: foreign banks seek shelter from Fed rules
Foreign banks stashing repo businesses within their branches, outside Fed’s full gaze
EU insurers most exposed to French sovereign risk
French government bonds make up 23% of sovereign exposures
EU insurers shun ABS, real estate
Securitisations make up just 0.5% of portfolios; property 2.7%
New DTCC fee structure could lure non-bank traders
US regulator approves proposal targeted at government securities business
Buy-side modellers seek ‘Holy Grail’ of investing
When stocks and bonds fell in tandem this year, it sparked a debate about whether a lasting regime shift could be predicted
Japanese banks load up on HQLA
Aggregate liquid assets increase ¥22.3 trillion year-on-year
Dodge & Cox turns to MBS as Treasury yields rise
Income Fund grows securitised allocations from 36.1% to 39.7%
CME has chance to rule US rates after Nex deal
Market expects exchange to unite bond, repo, futures and swaps clearing – eroding grip of banks and DTCC
State Street bolsters liquidity buffers
HQLA share of investment portfolio grows from 61% to 70% in the first quarter
Pensions shackle UK to RPI linkers, say traders
Carney’s call to end use of flawed inflation index faces obstacles
Banking union: big bang or damp squib?
Eurozone needs package of interrelated measures to prevent project going backwards
Rates flow market-maker of the year: Citadel Securities
Risk Awards 2018: Firm takes on dealers once again by market-making in custom swaps and off-the-run Treasuries
DTCC set to cut US Treasury clearing fees
Revised fee structure could prompt more firms to participate in clearing
Fed’s Powell on Libor reform, repo and clearing
Risk30: Market doesn’t need to “clear all US dollars in US and all euros in eurozone” says next Fed chair
Curing the eurozone: how to fix the ESM
Bailout fund should guarantee all EU government debts but charge a protection fee, writes Marcello Minenna
LCH limits substitution to tackle quarterly collateral flight
CCP clamps down on bond-for-cash switches driven by reporting and quarter-end repo spikes