DL Monitor

Our weekly newsletter, DL Monitor, provides market insights and observations on factors effecting hedging and derivatives. Subscribers receive notifications to the publications. Our monthly DL Report provides more authoritative white-paper for-subscribers-only.

Bottom for Rates is Yet to Come

 Last Week: Interest rates and global equities were both lower on the week as markets continued to struggle with the economic fallout from the pandemic. The yield on the US 10-year Treasury note fell 0.18% to 0.58%, its lowest weekly close ever, as 1-month LIBOR drifted in a tight range near 0.98%. The price of […]

Life After Zero Interest Rates

Last Week: Interest rates were mixed, and global equities rose sharply on the week. Strains in fixed income markets have begun to ease thanks to large-scale – in some cases unlimited – commitments on the part of central banks to add liquidity to markets and to purchase bonds in order to lower market rates. Credit […]

QE Forever

Last Week: Interest rates rose, and equities were little net changed on the week, though volatility remained extraordinarily high. The yield on the US 10-year note rose all the way to a 1.19% high at mid-week, but wrapped at 0.88% on Friday. 1-month LIBOR rose steadily throughout the week, peaking at 0.93% at week’s end […]

Rate Cuts Can’t Heal Sick People

Last Week: Interest rates edged higher as global equities traded dramatically lower on the week, ending the bull market in the S&P 500 Index just one day after it turned 11 years old. On Thursday, the S&P 500 suffered its largest one-day percentage drop since 1987 and Europe suffered its largest single-day drop on record. […]

Take Me To Zero

Last Week: Interest rates plummeted, and equities traded lower on the week as markets factored in the growing odds of recession due to the ripple effects of the spreading coronavirus. The yield on the US 10-year Treasury note crashed to an all-time low below 0.50% before bouncing modestly. 1-month LIBOR followed suit, nosediving to .86% […]