Great stuff every day, thank you! How do you explain the 30 year swap still being so negative? I thought that the move in Yen was a driver behind the move lower in spreads but obviously this has not proved out... Do you think that the change in how insurance companies discount their obligations based on the swap and not the treasury rate has something to do with this?
Bond Expert: Wednesday Outlook [View article]
Great stuff every day, thank you!
How do you explain the 30 year swap still being so negative? I thought that the move in Yen was a driver behind the move lower in spreads but obviously this has not proved out...
Do you think that the change in how insurance companies discount their obligations based on the swap and not the treasury rate has something to do with this?
Thx much!