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Daily Archives: 31st October 2019

31st October 2019

Picking the last of the low hanging fruit

MARKET CLOSE:
iTraxx Main

51.7bp, +0.2bp

iTraxx X-Over

240bp, +3.3bp

🇩🇪 10 Yr Bund

-0.40%, -4bp

iBoxx Corp IG

B+113bp, unchanged

iBoxx Corp HY

B+407bp (+3bp)

🇺🇸 10 Yr US T-Bond

1.71%, -9bp

🇬🇧 FTSE 100

6026.94, (+0.09%)
🇩🇪 DAX

12591.68, (+0.66%)
🇺🇸 S&P 500

3351.28, (-0.09%)

Chapter 11…

The election season has kicked off in the UK, and in the US the Fed has cut rates for the third time this year with the jury out as to whether they will again in 2019. We still have slightly optimistic signals (limited truce?) coming from the US/China trade situation, with only the macro picture exhibiting weakness that might concern investors (or not) in November.

Nevertheless, it’s been a decent period for investors with a good recovery in risk markets over the past week especially, helping to prop up the excellent performance that most equities, rates and credit have managed to garner this year.

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