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Daily Archives: 3rd October 2019

3rd October 2019

Hmmm, not feeling so lucky

MARKET CLOSE:
iTraxx Main

59.2bp, +1.8bp

iTraxx X-Over

252.3bp, +11.2bp

🇩🇪 10 Yr Bund

-0.58%, -4bp

iBoxx Corp IG

B+125.4bp, +2bp

iBoxx Corp HY

B+422bp, +11bp

🇺🇸 10 Yr US T-Bond

1.54%, -5bp

🇬🇧 FTSE 100

6032.18, (+0.09%)
🇩🇪 DAX

12674.88, (+0.66%)
🇺🇸 S&P 500

3351.28, (+0.06%)

Squeaky bum time again…

We’re in another one of those periods, of which we have had many, where it looks like the financial markets are about to collapse about us. The Eurozone economy is on the brink (again), Trump is facing the proverbial gallows (still), the US/China trade dispute has taken in a transatlantic war (again), Brexit uncertainties are building (still) and there are (still) various geopolitical risks threatening to erupt. The markets, though, are reacting to the slowdown in global manufacturing – and now services – of which this week’s reported US slowdown in both sectors has really set the ball rolling.

It would seem that there’s no complacency in markets as they take a more defensive posture. Trying to offset it all, easier monetary policy kicks in next month in the Eurozone, while there are growing expectations and pressures on the Fed to cut at the end of October meeting.

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