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Daily Archives: 15th October 2019

15th October 2019

Just the tonic

MARKET CLOSE:
iTraxx Main

53.0bp, -2.2bp

iTraxx X-Over

237.0bp, -7.2bp

🇩🇪 10 Yr Bund

-0.42%, +3bp

iBoxx Corp IG

B+121bp, -1.5bp

iBoxx Corp HY

B+409bp, -4bp

🇺🇸 10 Yr US T-Bond

1.77%, +3bp

🇬🇧 FTSE 100

6154.34, ERROR
🇩🇪 DAX

12946.89, (+2.04%)
🇺🇸 S&P 500

3333.69, (+0.54%)

Brexit becoming a reality…

Markets were not threatening to do too much amid ongoing apprehension around Brexit, the Middle East and the trade talks – until the afternoon session, and the US opening. And then we had a strong rally in risk assets, led (as usual) by equities and with a decent sell-off in safe havens. It was as if markets threw caution to the wind. Late into the afternoon, there was heightened hopes of a Brexit deal but we think that the receptivity to a mixed bag of reports on the US earnings stream in the session was also a driver.

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