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Daily Archives: 25th November 2018

25th November 2018

The wait goes on

MARKET CLOSE:
iTraxx Main

80.6bp, +0.9bp

iTraxx X-Over

333.7bp, +4bp

🇩🇪 10 Yr Bund

0.34%, -3bp

iBoxx Corp IG

B+162.5bp, unchanged 

iBoxx Corp HY

B+483.5bp, +4bp

🇺🇸 10 Yr US T-Bond

3.05%, -1bp

🇬🇧 FTSE 100

6007.05, (-0.71%)
🇩🇪 DAX

13116.25, (-0.70%)
🇺🇸 S&P 500

3319.47, (-1.12%)

It’s now or never…

We’re through Thanksgiving & Black Friday, and into the final couple of weeks of where we might get some meaningful business done. It’s been a poor year in almost every aspect for risk markets and we don’t expect much of a recovery before we close it out. It likely will not look much better than it does at the moment.

There is just too much event risk in the air, meaning that any semblance of price recovery might be taken as a selling opportunity. We could see some decent primary activity judging by the number of mandates being dished out and postponed deals which might revisit should conditions improve and windows open. But we’ve probably seen the best of it.

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