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Daily Archives: 10th October 2019

10th October 2019

Signs of progress

MARKET CLOSE:
iTraxx Main

56.4bp, -1.6bp

iTraxx X-Over

247.6bp, -5.4bp

🇩🇪 10 Yr Bund

-0.47%, +8bp

iBoxx Corp IG

B+124.4bp, -1bp

iBoxx Corp HY

B+425bp, -7bp

🇺🇸 10 Yr US T-Bond

1.66%, +7bp

🇬🇧 FTSE 100

6104.72, (+1.14%)
🇩🇪 DAX

12660.25, (+0.47%)
🇺🇸 S&P 500

3327.77, (+0.62%)

But too much to juggle…

We’re not out of the woods in any way but we have let some much needed steam out of the pressure cooker. Trade talks/Hong Kong/Middle East/Brexit/macro were all beginning to get too much and were clearly weighing on markets. So some of the heat has been let out courtesy of – or hope that we will see – some sort of breakthrough (a partial deal?) on the US/China trade talks which began on Thursday. Unfortunately, the Turkey invasion into Kurdish held areas in northern in Syria is doing its utmost and might warrant a degree of caution again.

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