Archive

Monthly Archives: Aug 2018

30th Aug 2018

Trouble ahead?

Maybe, but it’s looking good at the moment… Credit is delicately poised at this moment. Stable growth dynamics should help to offset fears some might have about reducing their exposures following the ECB’s QE exit. There hasn’t been a rush for the exit in any sense, but there has been a healthy reassessment as to […]
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29th Aug 2018

Euphoric US markets

Respite Wednesday… There were deals, but we didn’t quite manage to generate the same level of excitement as in the previous session. Just as well, as it might have been too much for some! The takeaway from Tuesday’s corporate bond deluge – €11bn of IG financial and non-financial issuance – was that the market can […]
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28th Aug 2018

What a day!

Difficult start, happy end… We are closing in on these final few sessions of the month with the mood a little brighter following a more difficult couple of weeks previously. A likely agreement with a freshening-up of the NAFTA deal (admittedly between the US and Mexico only, so far) has given the markets a boost […]
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21st Aug 2018

Some signs of resilience

But event risk still looms large… If it isn’t Turkey potentially unleashing a wretched spiral of contagion infecting and busting emerging markets – and perhaps ultimately the financial system, we now have Italian event-risk back on the menu of problems to contend with. This one continues to be a slow-burning fuse. The fledgling Italian administration […]
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12th Aug 2018

Fearing the spiral of contagion

It’s Trump’s way, or the highway… China, Iran, Turkey, Russia and the EU. Trump’s economic war has unleashed a spiral of contagion which is threatening to result in an uncontrollable drop in financial prices. Once an emerging market nation can’t roll over its obligations drawing (over) exposed Western financial institutions into the net, then we […]
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7th Aug 2018

Trading through a minefield

Trade wars to stifle rally… Sino-US trade tensions show no sign of letting up – with the former looking to dig in for the long term. We are, in fact, seeing the rhetoric ramped up some with China readying tit-for-tat measures in retaliation of the threatened increase and broadening in tariffs on Chinese goods. It […]
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