Archive

Monthly Archives: July 2018

31st July 2018

Not bad

Needing to keep those fingers crossed… The markets must have had a decent July, judging by the warnings we’re seeing now about not getting complacent as risk assets ride high (relatively). We’ve had a few decent sessions of late. Of course, geopolitical tensions remain elevated but risk markets have done very well this month, managing […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
25th July 2018

Hot, hot, hot

Holding our own… The markets are not going to give up without a fight, and it is looking as if we are into the early throes of a difficult summer. Trump continues to do his level best to make sure we don’t rest up too much, this time urging the EU to scrap all tariffs […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
23rd July 2018

There’s no holding him back

Turning protocol on its head… The markets are now into the holiday season and that means activity will largely grind to a halt. It had already shown signs of it last week, but the pace dial is really set to ‘slow’ now. We will get a trickle of new issues in primary, secondary activity will […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
19th July 2018

Few will be getting rich(er) this summer

Feeling content, though… The week just gone is likely going to be a flavour of what to expect over the next few to come. Everything pretty much rangebound, that is. In primary, it will be the offering of the odd deal – and that includes those which require a little more effort like from the […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
18th July 2018

And now, the end is near…

Headline risks fading for the moment… It’s just as well the Brexit debate continues to rage, because there isn’t too much to focus on elsewhere. There will be some light relief that UK inflation number was stable at 2.4% in June & below market expectations, and now making highly unlikely that the BoE will raise […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
17th July 2018

Holidays are coming, really!

Summertime blues… It’s not getting any better in terms of activity – while the rest of the market is going sideways in terms of pricing. Admittedly, there was an uptick in issuance in the session, but mostly it was financials and covered bonds. There is an eerie disquiet around the plain vanilla non-financial IG corporate […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
16th July 2018

The numbers don’t lie

Holidays are coming €3.8bn, €2bn and €8bn versus €13bn, €5bn and €2.7bn. That’s IG non-financial, HY and senior financial issuance, respectively, in July so far – against the full month total for the same month in 2017. The numbers don’t hide anything. In fact, they make for a fairly depressing monthly read. They’re important because […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
15th July 2018

Calling a spade a spade

Trump sides with a hard Brexit… or does he? We’re trading the headlines around the US President, and it’s gripping stuff. With Trump being his usual inimitable self, there is little chance that we’re going to feel overly comfortable with anything. He has dropped a few bombshells already and the UK government’s stiff upper lip […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
12th July 2018

Trump still the news

Lights out for summer… So, that’s it for this first part of the year. We’re already into the extended summer holiday period. The corporate bond market doesn’t seem like it is in the mood to play ball for another week or so as judged by the dross of primary deal flow. We believed that the […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.
11th July 2018

Trump-inspired trade tensions hit markets

Don’t bet on it… Trump hadn’t even left US shores and was already throwing punches in several directions ahead of his first engagement in Europe, with NATO. They landed. The one which hurt the market most was the $200bn of additional Chinese imports that the US administration will seek tariffs on – with the Chinese […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.