Euro swap spreads flat/negative for the first time since Euro inception Net bund issuance post QT has reached almost €280 billion -- that's helped country spreads remain low but it has also had a huge impact on #swapspreads, which turned negative for the first time ever last week. But if negative swap spreads prove a boundary, what could this mean for BTP-Bund spreads and others? What dynamics are at play? Read the full piece on the terminal from our European Rates Strategist, Huw Worthington -- https://lnkd.in/eQN6WhQA -- and if you have a terminal, you have Bloomberg Intelligence in full so do IB to discuss. #fixedincome #portfoliomanagement #sovereigndebt #derivatives
