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Daily Archives: 11th October 2020

11th October 2020

🗞️ Election, Brexit & Earnings all in the Mixer

MARKET CLOSE:
iTraxx Main

52.1bp, -2.2bp

iTraxx X-Over

317.7bp, -1.7bp

🇩🇪 10 Yr Bund

-0.54%, -2bp

iBoxx Corp IG

B+122bp, unchanged

iBoxx Corp HY

B+456bp, unchanged

🇺🇸 10 Yr US T-Bond

0.78%, +1bp

🇬🇧 FTSE 100

5860.28, (+1.29%)
🇩🇪 DAX

12645.75, (+0.82%)
🇺🇸 S&P 500

3465.39, (+0.34%)

US election in view, but we’re already over it…

It would now appear that the US election is unlikely going to inject much in the way of any serious levels of intraday/daily volatility into the markets. There has been too much crying wolf. Investors have now moved on to the post-election stimulus boosts – and which administration might have the greater impact.

The net effect of either in the near term – and through 2021, is that we’re possibly going to see a similar boost to US GDP growth before the different policies see a growth divergence (Democrat stimulus resulting in higher growth/higher national debt, too).

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