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Daily Archives: 13th October 2019

13th October 2019

Tunnel of love

iTraxx Main

53.8bp, -2.6bp

iTraxx X-Over

239.7bp, -8bp

🇩🇪 10 Yr Bund

-0.45%, +4bp

iBoxx Corp IG

B+122.6bp, -2bp

iBoxx Corp HY

B+414bp, -12bp

🇺🇸 10 Yr US T-Bond

1.73%, +7bp

🇬🇧 FTSE 100

6154.34, ERROR
🇩🇪 DAX

12946.89, (+2.04%)
🇺🇸 S&P 500

3333.69, (+0.54%)

Green light and it’s a go…

In a flash, the tone is massively upbeat. Trade tariff talks have apparently gone well between the US and China and we are in de-escalation territory. Meanwhile, we have the makings of a deal on Brexit and markets rallied hard into the final session of last week as a result.

Should the positive tone follow through into some sort of reality of a deal in both situations, then we are set up to rally into the end of the year. That’s a biggish ‘if’, but it is not impossible. And for the moment, investors will likely choose to (almost) ignore the event risk which might emerge from the Middle East.

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