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Daily Archives: 24th September 2018

24th September 2018

Ruby Tuesday

MARKET CLOSE:
iTraxx Main

69.7bp, +1.4bp

iTraxx X-Over

270.1bp, +5.5bp

🇩🇪 10 Yr Bund

0.51%, +5bp

iBoxx Corp IG

B+129.4bp, unchanged

iBoxx Corp HY

B+376.2bp, -3.5bp

🇺🇸 10 Yr US T-Bond

3.08%, +2bp

🇬🇧 FTSE 100

6026.94, ERROR
🇩🇪 DAX

12591.68, ERROR
🇺🇸 S&P 500

3349.16, -4.38

Cautious start to the week…

The market’s positive momentum of last week was checked as trade tensions rose with the US imposing tariffs on $200bn of Chinese goods and China broke off from further talks. There might have been moderate weakness in both equities and government bond markets during the opening session of the week, but it wasn’t going to deter primary market deals, and especially the much-touted acquisition finance multi-tranche Abbot Laboratories deal.

Others were in the market too and several new mandates were dished out promising a decent final quarter for the primary corporate bond market. And it looks like we are going to have a fairly heavy week of issuance with Vodafone looking to print in hybrid format on Wednesday.

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