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Daily Archives: 16th October 2019

16th October 2019

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MARKET CLOSE:
iTraxx Main

52.5bp, -0.5bp

iTraxx X-Over

232.6bp, -4.4bp

🇩🇪 10 Yr Bund

-0.39%, +3bp

iBoxx Corp IG

B+119.7bp

iBoxx Corp HY

B+404bp, -5bp

🇺🇸 10 Yr US T-Bond

1.75%, -2bp

🇬🇧 FTSE 100

6154.34, ERROR
🇩🇪 DAX

12946.89, (+2.04%)
🇺🇸 S&P 500

3333.69, (+0.54%)

Write a letter to the EU?…

Eurozone inflation dropped to 3-year lows in September, highlighting the predicament that the ECB has in trying to boost a slumping economy. CPI (at 0.8%) and core CPI (at 1.0%) both year on year, are far away from the ECB’s medium-term target levels. Brexit negotiations remained on a knife-edge as the UK (and the EU) struggled to get the DUP on board with the muted deal.

And so the markets effectively came to a standstill in this midweek session. Equities didn’t do too much. Rates were bid to start then better offered later. Secondary credit was flat to better bid, while primary market activity slowed markedly. With all that going on – or not as the case might be- we will have a look at this year’s euro-denominated primary markets in this note.

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