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Daily Archives: 4th October 2018

4th October 2018

Rate jitters grip

iTraxx Main

68.0bp, +0.4bp

iTraxx X-Over

276.5bp, +5.1bp

🇩🇪 10 Yr Bund

0.52%, +4bp

iBoxx Corp IG

B+130.4bp, -0.8bp

iBoxx Corp HY

B+380bp, -4.5bp

🇺🇸 10 Yr US T-Bond

3.20%, +4bp

🇬🇧 FTSE 100

6049.62, ERROR
🇩🇪 DAX

12489.46, ERROR
🇺🇸 S&P 500

3152.05, -12.23

But let’s talk credit…

The here and now has us thinking that surely the credit market must be on for some kind of spread tightening squeeze into the end of the year. We have flattered to deceive all year with spreads initially tightening and then widening and now spending months in some kind of holding pattern. They have been rangebound for an age! We know that investors have oodles of cash stashed away in their portfolios and are looking to get it invested – and we know that the primary market is the preferred route to get that money to work.

But the new issue market has failed to deliver this year, and it is increasingly looking like September’s deluge was a one-off.

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