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Daily Archives: 29th October 2019

29th October 2019

Finally!

MARKET CLOSE:
iTraxx Main

51bp, +0.8bp

iTraxx X-Over

232.5bp, +4.5bp

🇩🇪 10 Yr Bund

-0.35%, -2bp

iBoxx Corp IG

B+113bp, unchanged

iBoxx Corp HY

B+403bp, +1bp

🇺🇸 10 Yr US T-Bond

1.84%, -1bp

🇬🇧 FTSE 100

6032.18, (+0.09%)
🇩🇪 DAX

12674.88, (+0.66%)
🇺🇸 S&P 500

3351.28, (+0.06%)

Clarifying Brexit moment looms…

Investors will be hoping that this week trades out as well as it has started. The FOMC, US data deluge (earnings and key macro), Brexit/UK election and the US/China trade talks have thus far failed to dampen the mood. While that concoction of event-risk might be expected to have an impact on market direction affecting rates and equities especially, credit markets continue to slip through the net.

Spreads continue to grind tighter. The opening couple of sessions of the week already have primary pumping out deals and we are going to close out an excellent month for new deals. Demand remains elevated, the ECB QE is nigh, spreads are tightening, new deals are performing and investor confidence is high. Records beckon.

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