Bloomberg A disappearing spread between money-market rates and expected policy equivalents indicates the Reserve Bank of Australia’s (RBA) official cash rate may no longer serve as the floor for borrowing costs. The three-month bank-bill swap rate — a gauge of Australian borrowing costs — has continued to slide, with its spread over a similar-tenor overnight index now poised to fall …

Bloomberg Citigroup Inc.’s bond traders just posted their best quarter in eight years — a feat that was no match for the tidal wave of souring loans that walloped the bank’s profits. The deadly pandemic that sent global markets swooning helped the firm’s fixed-income, currencies and commodities traders generate $4.79 billion, trouncing analysts’ estimates by more than $1 billion. But …

Bloomberg Investor demand for Switzerland’s currency, already trading at a five-year high, will increase as the country’s economy will outperform others during the recession, strategists at UBS Group AG predict. “Switzerland enters this recession with excellent credit quality, and its pandemic health situation is under control,” UBS strategists Thomas Flury and Gaetan Peroux wrote in a note to clients. “Hence …