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Daily Archives: 15th April 2018

15th April 2018

Don Trump? No, stick with Donald

MARKET CLOSE:
iTraxx Main

55.1bp, -0.9bp

iTraxx X-Over

276.1bp, -3.5bp

10 Yr Bund

0.51%, unchanged

iBoxx Corp IG

B+104.4bp, -1.2bp

iBoxx Corp HY

B+316.4bp, -4.4bp

10 Yr US T-Bond

2.83%, unchanged

FTSE 100

7,877.45, 18.28
DAX

13,169.92, 92.20
S&P 500

2,724.44, -8.57

West’s response sullies outlook…

Better than expected: JP Morgan

It should be time to switch focus and save the month’s performance. The earnings season is upon us and might prove to be a useful distraction as we focus on the nitty-gritty of companies and macro. With that, the Q1 earnings season has kicked off in good fashion.

US banks have been reporting record results (JP Morgan and Citigroup beat estimates) while those from Wells Fargo were understandably more difficult given the regulatory issues surrounding the institution on mis-sold car insurance and mortgage fees.

US stocks closed a small down in the final session, but we rounded off a decent week overall for them (S&P getting closer to flat year to date), rate markets held firm to seeing yields just edge higher for choice while credit ended better bid amid investors being occupied (thankfully) with a good level of activity from primary.

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