Report
Théophile LEGRAND

Buy 5Y5Y real EUR swap

We recommend buying the 5y5y real swap at 5 6 bp (receive 5y5y nominal, pay 5y5y inflation swap), targeting 30 bp with a stop at 68 bp. The r ecent repricing in real rates has been trigger ed by US spillover effect s and a potential pause by the Fed. However, ongoing macroeconomic concerns, including recession risks in Germany and uncertainties regarding US tariffs, indicate that for real yields downside factors outweigh upside ones .
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Théophile LEGRAND

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