the swaps basis widened as interest rate swaps rose amid hedging by foreign investors while cross currency swaps were trading flat
Posted By admin on January 22, 2010
Others, however, were more neutral on the data. “Inflation prints in NZ have been volatile of late and we are reluctant to read too much into today’s negative print. In part it reflects some correction to the large jump in inflation in the previous quarter,” said a note from RBC Capital Markets.
Boots, whose retail arm is in Nottingham, said the joint venture would bring together strong local management and “our extensive experience in running pharmaceutical wholesaling businesses”.
Yang Rongming, chairman of the joint venture partner, said: “We are delighted to be forming this joint venture with such an experienced international partner with proven excellence in the operation, acquisition and integration of pharmaceutical distribution businesses.”
* In South Korea, the swaps basis widened as interest rate swaps rose amid hedging by foreign investors while cross currency swaps were trading flat.
* One year interest rate swaps KRQMCD1Y=KMBC were 2 bps higher at 3.46 percent with the swaps basis, the difference between CCS and IRS, rising to 175 bps from 153 bps at the start of the month.
* South Korean treasury bonds fell and debt futures came under pressure amid selling by foreign investors who were eyeing the weakness in U.S. Treasuries.
* “Futures have recovered but swaps are still there. There is a feeling that bond swaps could be normalising, so people are using the IRS as a hedging tool rather than futures,” said a Seoul-based analyst.