Suki Mann

Author Archives: Suki Mann

20th September 2018

The future is bright for credit

Scene set for a squeeze in spreads… Could it be that credit spreads are set for a squeeze tighter through the remaining months of this year? One of the features of the supply seen this month is that books have been oversubscribed by a considerable margin, and deals have been able to be priced tighter […]
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19th September 2018

Fixed income feels the chill

Rates are the story… The only market bursting out of the blocks is the rates one, that is, with yields heading higher and close to setting the highs for the year in the US (10-year), while the 10-year Bund yield up at close to 0.50% is still 27bp short of its highest level for 2018. […]
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18th September 2018

One hand giveth…

The other taketh away… Deals galore littered the primary markets in one of the heaviest sessions for a while – most likely this year so far in terms of the number of issuers. There was SSA issuance, covered bonds, IG and HY corporates, senior and subordinated financials and in dollars, euros and sterling currencies. So […]
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17th September 2018

Indian summer

Taking stock… We’re just past the halfway stage of the month and, having manoeuvred a few bumps and scrapes, the market is holding relatively well. All eyes, as usual, have been on the US and their domestic economy is powering ahead. The economic storm clouds have threatened elsewhere but the bellwether S&P is clinging on […]
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4th September 2018

Needing to ramp it up

Willing the markets on… Our obsession with the primary market continues – because it is the oxygen of the market. Tuesday’s session saw a plethora of activity, but it was mainly financials driven. Covered bonds, senior issues and subordinated debt dominated the screens with a couple of peripheral non-financial corporates also in the mix. Spreads […]
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3rd September 2018

Raring to go

All we need is confidence… It was the dull session that we might have expected it to have been given that the US markets were closed for Labour Day. Trump was at it again, though – doing his best in stoking trade tensions.  Chinese manufacturing activity slipped to a 14-month low in August on slowing […]
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2nd September 2018

Isolationist, but US out in front

Trump rallies the US equity markets… We head into the new month having been met with a flurry of issues which ought to offer some food for thought, if not a whole lot of concern. We had data showing slowing industrial production in Japan in July, Trump threatening to pull out of the WTO (again) […]
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30th August 2018

Trouble ahead?

Maybe, but it’s looking good at the moment… Credit is delicately poised at this moment. Stable growth dynamics should help to offset fears some might have about reducing their exposures following the ECB’s QE exit. There hasn’t been a rush for the exit in any sense, but there has been a healthy reassessment as to […]
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29th August 2018

Euphoric US markets

Respite Wednesday… There were deals, but we didn’t quite manage to generate the same level of excitement as in the previous session. Just as well, as it might have been too much for some! The takeaway from Tuesday’s corporate bond deluge – €11bn of IG financial and non-financial issuance – was that the market can […]
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28th August 2018

What a day!

Difficult start, happy end… We are closing in on these final few sessions of the month with the mood a little brighter following a more difficult couple of weeks previously. A likely agreement with a freshening-up of the NAFTA deal (admittedly between the US and Mexico only, so far) has given the markets a boost […]
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