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Daily Archives: 2nd September 2020

2nd September 2020

🗞️ We …”live in interesting times”

iTraxx Main

50.3bp, -2bp

iTraxx X-Over

306.4bp, -5.4bp

🇩🇪 10 Yr Bund

-0.47%, -6bp

iBoxx Corp IG

B+124bp, unchanged

iBoxx Corp HY

B+454bp, unchanged

🇺🇸 10 Yr US T-Bond

0.65%, -2bp

🇬🇧 FTSE 100

5860.28, (+1.29%)
🇩🇪 DAX

12645.75, (+0.82%)
🇺🇸 S&P 500

3465.39, (+0.34%)

It’s like the Japanification, of everything…

There’s much to be wary of, but right now the mood is upbeat and the traffic is one way. Everyone’s back in the saddle in some form or another and there’s money to put to work. Equities up, yields lower, credit spreads tighter. Rare days indeed, where everyone’s a winner. It should be the case, but such is the policy manipulation of everything means that it is. Of course, we are getting ahead of ourselves, but even our hitherto bullish 3,700 S&P year-end target will soon look to be conservative at this rate.

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