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Daily Archives: 18th July 2018

18th July 2018

And now, the end is near…

MARKET CLOSE:
iTraxx Main

64.0bp, unchanged

iTraxx X-Over

291.8bp, +2bp

🇩🇪 10 Yr Bund

0.34%, -1bp

iBoxx Corp IG

B+130.5bp, unchanged

iBoxx Corp HY

B+389bp, -0.5bp

🇺🇸 10 Yr US T-Bond

2.88%, +2bp

🇬🇧 FTSE 100

,
🇩🇪 DAX

,
🇺🇸 S&P 500

,

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 rates at its 2nd August meeting.

Sterling took a blow as that and the messy Brexit/political situation saw it close in on $1.30 the figure. Equities received a mild boost from the lack of real negative news, for a change, with the FTSE almost back to flat for the year. Even the DAX was up by another 0.8% and now only around 150 points away from also being flat for the year (-3.4% still). Bitcoin’s probably worth a mention, as it has risen from the below the $6000 a coin level to almost $7500 in a month.

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