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Daily Archives: 2nd December 2018

2nd December 2018

Credit finally feels the chill

MARKET CLOSE:
iTraxx Main

80.7bp, +1bp

iTraxx X-Over

327.5bp

🇩🇪 10 Yr Bund

0.32%, unchanged

iBoxx Corp IG

B+166.9bp, +1.9bp

iBoxx Corp HY

B+497.5bp, +3bp

🇺🇸 10 Yr US T-Bond

2.99%, -2bp

🇬🇧 FTSE 100

6026.94, (-1.27%)
🇩🇪 DAX

12591.68, (-0.54%)
🇺🇸 S&P 500

3349.16, (+0.22%)

Xmas needs to come early…

Global tensions at the G20 dominated the final session of last week, leaving the markets to display some defensiveness as we closed out a weak and, at times, volatile month. October was a difficult period and November also proved to be tough but displayed less of the wild swings seen before. Credit spreads just leaked wider on a consistent basis and gave their worst monthly performance for 2018. European equities were lower by up to 2%, adding to the big losses seen already in the period to end of October. Duration was slightly better bid across the board. We’re going to be licking our wounds in December, no doubt none-the-wiser as to how 2019 will play out.

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