Interest rate swaps
LCH SwapAgent completes first trades
Citi and Deutsche Bank executed the first trades, a Swiss franc-denominated interest rate swap and euro-denominated inflation swap
Morgan Stanley: inverted swap spreads will alter pension fund hedging
The inverted swap spread, where medium and long-term government bond yields exceed corresponding swap rates, is set to persist and will prompt a shift in the interest rate hedging stratagies of UK pension funds and insurers, according to US bank Morgan…