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Daily Archives: 8th October 2019

8th October 2019

Boris’ Karloff moment

MARKET CLOSE:
iTraxx Main

59.3bp, +1.3bp

iTraxx X-Over

259.7bp, +6.2bp

🇩🇪 10 Yr Bund

-0.60%, -2bp

iBoxx Corp IG

B+126bp, +0.7bp

iBoxx Corp HY

B+438bp, +7bp

🇺🇸 10 Yr US T-Bond

1.54%, -2bp

🇬🇧 FTSE 100

6032.18, (+0.09%)
🇩🇪 DAX

12674.88, (+0.66%)
🇺🇸 S&P 500

3351.28, (+0.06%)

Now we’re talking…

The focus totally should have been CK Hutchison Telecom’s six-part deal, with investors scrambling to get hold of the company’s debt even as Hong Kong’s troubles show no sign of abating – but markets were stumped. By Brexit. The latest had the markets in a tizzy as talks were said to have broken down (or close to breaking down) amid an apparently terse phone call between Merkel and Johnson. If true, we can now get on with it and on to the UK election, which will have ‘no-deal’ Tories pitched against a ‘we don’t know what we’re doing’ Labour Party and the ‘no-Brexit’ Liberal Democrats.

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