Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

This is the third edition of our monthly trade ideas recap note in which we list our current trade recommendations and discuss whether any need to be closed. We have made a total of 12 trade recommendations so far, of which 8 are in the money.

This is the third edition of our monthly trade ideas recap note in which we list our current trade recommendations and discuss whether any need to be closed. We have made a total of 12 trade recommendations so far, of which 8 are in the money.

Alpha Bites: Monthly Trade Ideas Recap (May 2021)

In this note, we look at the underperformance of Brazil's long-end rates relative to the currency, which has rallied significantly of late. Instead of going long rates outright, given the risks, it is better to hedge the position with the currency in our view.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

In this note, we look at the underperformance of Brazil's long-end rates relative to the currency, which has rallied significantly of late. Instead of going long rates outright, given the risks, it is better to hedge the position with the currency in our view.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Brazil Rates Lag the Currency’s Rally

In this note, we discuss the trigger behind the latest bout of steepening of Colombia's rate curve and argue that the steepening should continue in line with our trade recommendation.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

In this note, we discuss the trigger behind the latest bout of steepening of Colombia's rate curve and argue that the steepening should continue in line with our trade recommendation.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Colombia’s Curve Steepens on Fiscal Concerns

In this note, we discuss why the spread of EM rates to the US has widened even as the volatility of US rates has come off the peak when typically the reverse happens.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

In this note, we discuss why the spread of EM rates to the US has widened even as the volatility of US rates has come off the peak when typically the reverse happens.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: EM Long-End Rates Continue to Maintain Risk Premium Cushion

In this note, we looked at the beta-adjusted performance of EM rates as US rates rallied this month to identify the countries that have lagged.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

In this note, we looked at the beta-adjusted performance of EM rates as US rates rallied this month to identify the countries that have lagged.Separately, the attached file is a snapshot of EM 10y rates market, which we produce daily, and where we seek to identify the leaders and laggards among countries by comparing the performance of each to its history as well as to other countries based on their respective betas to the broad market.

Rates 10y Dashboard: Which Countries Underperformed as US Rates Rallied?

Poland

A vanila interest rate swap us an agreement between two counterparties to exchange cashflows (fixed vs floating) in the same currency. This agreement is often used by counterparties to change their fixed cashflows to floating or vice versa. The payments are made during the life of the swap in the frequency that is pre-established by the counterparties.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

PLN 10Y (PZSW10 CURNCY)

Alpha Bites: Monthly Trade Ideas Recap (May 2021)

In our monthly trade ideas recap note, we list our current recommendations and discuss whether any need to be closed. We have made a total of 12...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Brazil Rates Lag the Currency’s Rally

Brazil's long-end rates have underperformed as the currency has rallied. Instead of going long rates outright, given the risks, it is better to...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Colombia’s Curve Steepens on Fiscal Concerns

We discuss the trigger behind the latest bout of steepening of Colombia's rate curve and argue that the steepening should continue in line with our...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: EM Long-End Rates Continue to Maintain Risk Premium Cushion

In this note, we discuss why the spread of EM rates to the US has widened even as the volatility of US rates has come off the peak when typically...

Gautam Jain, PhD, CFA

Rates 10y Dashboard: Which Countries Underperformed as US Rates Rallied?

In this note, we looked at the beta-adjusted performance of EM rates as US rates rallied this month to identify the countries that have lagged.

Gautam Jain, PhD, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)