Category: Blog

Good morning and happy Friday, Overall, fixed income markets are firmer in reaction to the modest but increasing pullback seen in the energy space overnight and as JGBs lead on domestic updates. USTs currently trading 109-09 and got to a 109-12 peak(with a low of 109-04+) in the early morning, as energy hit a low…

A firmer start to the day for fixed income, after a relatively rangebound APAC session on account of the lack of energy follow-through to the tit-for-tat strikes by the US and Iran overnight, with the narrative potentially being that the strikes are no more of an escalation than what we saw on Tuesday night. Overnight,…

Fixed income markets started on the backfoot, as benchmarks gradually moved lower as energy continued to move higher overnight given the US revoked Iran’s oil waiver and then conducted strikes on 80 Iranian targets in retaliation to Iran targeting various cargo vessels on Tuesday, additional angst comes from Trump as he once again lashes out…

Yields are lower across the curve, even with the BOJ raising rates, but with underperformance now in the belly of the curve, in contrast to short-end underperformance seen on Monday; nonetheless, the bull-steepening bias remains. The slight pressure in the belly is perhaps indicative of markets beginning to price in the economic impact of the…

Fixed Income Markets rise as the US and Iran agree to a framework peace deal, which has led to continued and sustained pressure in the crude complex. In brief, the US and Iran have reached a framework peace agreement; the US will lift its naval blockade, and Iran will reopen the Strait of Hormuz. However,…

Global fixed income markets are entirely in the red this morning, dragged down by higher energy prices after Israel struck Lebanon with fresh strikes, which led to retaliation from the Iranians. Following the recent attacks, President Trump suggested that the announcement of a deal with Iran was set for this week, but now new fighting…

Fixed income markets are mixed as energy prices cool a touch after President Trump said Iran negotiations are going well, with him suggesting a deal could happen over the weekend. Though noted that it could go another two or three weeks. Separately, reports suggest that Israel and Lebanon agreed to a ceasefire, though recent reports…

Fixed Income markets are stronger across the board, facilitated by a pullback in energy prices after some positive-leaning geopolitical newsflow. Trump suggested that talks with Iran are continuing at a rapid pace, adding that he thinks an agreement will be made with Iran to extend the ceasefire over the next week. As for price action,…

A softer start for fixed income as the energy space climbed in European hours, given a handful of detrimental updates on the US-Iran situation. Since, the press conference from Iran’s spokesperson has provided further support to energy, with Araghchi noting that no negotiations have taken place on the details of the nuclear issue. USTs are…

5-29-26 Fixed income markets ease modestly off the post-Axios peaks on Thursday and continue to await the assessment of US President Trump on the MOU(Memorandum of Understanding, they couldn’t just call it a peace deal?). Note, a recent dip in energy has provided some modest support. USTs are at 109-26+ in the middle of a…