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Daily Archives: 17th October 2019

17th October 2019

Super Saturday up next

iTraxx Main

52.7bp, +0.2bp

iTraxx X-Over

233bp, +0.4bp

🇩🇪 10 Yr Bund

-0.40%, -1bp

iBoxx Corp IG

B+118.7bp, -1bp

iBoxx Corp HY

B+402bp, -2bp

🇺🇸 10 Yr US T-Bond

1.75%, unchanged

🇬🇧 FTSE 100

6154.34, ERROR
🇩🇪 DAX

12946.89, (+2.04%)
🇺🇸 S&P 500

3333.69, (+0.54%)

And we don’t mean the rugby…

Thursday’s session really was all about Brexit. Getting the agreed UK/EU deal over the line is what matters now. It looks like it is ‘this deal, or no deal’, after Juncker ruled out granting a further extension after October 31 – which is a big help for the UK government. It is thought to have wanted such a commitment.

The deal now needs to be ratified in the UK, where Parliament attempts to do so, sitting for only the fourth time on a Saturday in eighty years. It is not a foregone conclusion that they will ratify it, and a second referendum – on the deal – cannot be ruled out totally, as yet. It’s fair to say that while most are relieved that a deal has been agreed – we can argue as to whether it is better than the one agreed by the previous UK government – the markets appear to still be in limbo.

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