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Daily Archives: 13th October 2020

13th October 2020

🇺🇸 Whether it’s Trump or Biden (or Harris)…

iTraxx Main

51.9bp, +1.3bp

iTraxx X-Over

316.5bp, +9.5bp

🇩🇪 10 Yr Bund

-0.56%, -2bp

iBoxx Corp IG

B+121.3bp, -0.3bp

iBoxx Corp HY

B+455bp, unchanged

🇺🇸 10 Yr US T-Bond

0.73%, -4bp

🇬🇧 FTSE 100

5860.28, (+1.29%)
🇩🇪 DAX

12645.75, (+0.82%)
🇺🇸 S&P 500

3465.39, (+0.34%)

…the net effect on markets will be the same

Excitement or fear. They elicit a similar nervous, perhaps hesitant feeling throughout the markets. But another 2% and the S&P will see out a fresh record high. Admittedly, most of the political focus is on the US election where the polls have Biden so far in front that anything other than a win for him would represent the biggest failure in polling history – well, since the UK Brexit referendum anyway. For the markets, they have quite simply moved on, eyeing stimulus packages.

On that topic, the UK/EU trade talks are continuing this week – ahead of the EU summit on Thursday, which itself is needing to shed greater light on the region’s position. There’s only so much kicking down the road that this particular ‘can’ will take.

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