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Daily Archives: 25th November 2019

25th November 2019

Solid primary

iTraxx Main

48.3bp, -1.6bp

iTraxx X-Over

228.6bp, -5.9bp

🇩🇪 10 Yr Bund

-0.35%, unchanged

iBoxx Corp IG

B+117bp, -1bp

iBoxx Corp HY

B+399bp, -4bp

🇺🇸 10 Yr US T-Bond

1.76%, -2bp

🇬🇧 FTSE 100

6095.41, (+0.76%)
🇩🇪 DAX

12633.71, (+1.15%)
🇺🇸 S&P 500

3185.04, (+1.05%)

Good news line up…

This much curtailed week (Thanksgiving, Black Friday) got off to a fine start and there is little reason to believe that we won’t stay in a positive mood over the next couple of sessions. Markets have chosen to be upbeat (again) on the trade talks, while the pro-democracy councillors’ huge success in local elections in Hong Kong will give rise to hopes that the authorities might yield much ground on the pro-democracy movements’ expectations.

In the UK, we now have all the election manifestos out and we believe (as do the polls) that we have the non-trivial prospect of a majority for the Conservative Party which then gives the markets reduced levels of uncertainty through the Brexit expectations. Sterling rose, the FTSE rose and even Gilts were slightly better bid.

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