Client notes
What desks say after working through a curve with us.
“Their curve note flagged the 10s30s steepener before our own morning meeting — useful when we were still debating whether to fade the move.”
“The retainer notes are short enough to read on the Tube. I would like them a touch earlier on gilt auction days, but the shape commentary is consistently useful.”
“We used the duration stress review ahead of an ALM committee. The twist scenarios were clearer than the parallel shocks our internal pack always defaults to.”
“They declined to cover our EM local-currency book, which was honest. On gilts and Bunds they were precise about what was issuance versus genuine demand.”
Engagement story: Autumn gilt twist
A London long-only desk asked for a half-day duration stress review after a sharp bear-flattening week. We rebuilt three curve paths from their holdings extract — a further flatten, a bull steepener if auctions soft-pedalled, and a butterfly dislocation around the 7–10 year sector.
The committee used the twist pack to tighten bucket limits rather than cut overall duration. The client later booked a monthly Curve Watch retainer so the morning note would keep those bucket questions alive between formal reviews.