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Daily Archives: 25th September 2019

25th September 2019

🗞️ Relax, it’s just a stumble

MARKET CLOSE:
iTraxx Main

55bp, -+xxbp

iTraxx X-Over

230.9bp, +7.6bp

🇩🇪 10 Yr Bund

-0.59%, +1bp

iBoxx Corp IG

B+124.5bp, +0.5bp

iBoxx Corp HY

B+413bp, +8bp

🇺🇸 10 Yr US T-Bond

1.71%, +7bp

🇬🇧 FTSE 100

5563.74, (-5.25%)
🇩🇪 DAX

9815.97, (+1.90%)
🇺🇸 S&P 500

2626.65, (+1.89%)

Mild disruption fails to sully Q3 for corporate bond market…

Impeachment proceedings against President Trump and uncertainty around Brexit were enough to effectively write off Wednesday’s session. The brouhaha around both situations left the markets to warrant their customary defensive stance amid the potential for chaos. It doesn’t help that Trump suggests stock markets would crash if he is impeached (some sort of desperate threat from him) while we have little real idea how the next few weeks will play out on the Brexit front. Primary credit was still chugging along, though – albeit at a slower pace versus the opening three weeks of the month, with several deals to keep us interested.

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