Category Archives for "Fixed Income Market"

19th November 2018

Everybody wants a bigger slice of the cake

Future relationship to peril May… The mapping out of the future relationship between the EU and the UK, with some sort of detail to be published on it on Tuesday, promises a lively week on the European political scene. There will be more pressure on Theresa May as she likely cedes ground and the full […]
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18th November 2018

You ain’t seen nothing yet

It isn’t all that it seems… The big deal was the Brexit agreement and the subsequent revolt from (almost) all sides of the political divide. The political reaction soured sentiment across the sterling credit market as we might have expected, but we also had a contagion impact on euro credit markets too. The end game might […]
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15th November 2018

No, Prime Minister

‘No deal’ it will be… It doesn’t get more exciting than when one can smell some political bloodletting. The great Sword of Damocles dangles over PM Theresa May, following an eruption of massive proportions around the Brexit “agreement”. For most, it clearly and rightly dominated the day. It should not have been so – or […]
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14th November 2018

It’s over

Christmas can’t come quick enough… Ouch! No – not Brexit, but the German economy. It contracted by 0.2% in Q3 versus Q2 as export markets flagged. And while that was enough to fret about, we also had the Italian government’s response to the European Commission’s demand that they rein in the spending as presented in […]
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13th November 2018

Brexit ‘deal’ excitement steals the day

But it’s getting more difficult to stay upbeat… So market bounces are an opportunity to reduce risk, it seems. Well, at least few are going to add on any dips or chase the market higher if it looks like it might start to feel better. We’ve been had by too many suckers’ rallies of late […]
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12th November 2018

Volkswagen piles ’em high, sells ’em cheap

Size opens eyes… Not usually a price taker, or a price giver, Volkswagen surprised with a 6-part deal, had the market to itself and we would have to concede that they timed it to perfection. And the deals were spread across the ‘Brexit’ divide – with deals in euros and sterling. Given the size and […]
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11th November 2018

Choppy ride into year-end

Credit still holds some lure… China, that ol’ chestnut. More signs of a slowdown as evidenced at the end of last week by European luxury goods makers reported earnings was enough to derail immediate hopes that a post-midterm election boost was going to be sustained. The bullish assessment on the US economy after the latest […]
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8th November 2018

Deep breath

The recovery lasted all but a day. Nevertheless, primary has reopened, the deal flow looks a lot better and could potentially be sustainable – even if equities only tread water for a while. US pharmaceutical group Allergan along with BMW and Intercontinental Hotels piped up for the IG non-financial market in the week’s penultimate session, adding […]
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7th November 2018

Lame duck… ‘ish

But no calamity… The markets liked it.  Reigning in the President got the thumbs up. The runaway express is coming under some control. There will still be executive orders, but likely no more tax cuts and the like. Growth and inflation, therefore, might moderate as any additional expansive economic policies fail to see the light […]
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6th November 2018

Trump’s mid-term report

If only it were that simple… One would think that corporate borrowers ought to be champing at the bit in order to get a deal away. If only because many fear that the ECB’s QE stimulus withdrawal at year-end will necessarily result in higher funding costs. It’s not that simple because the Eurozone economy is […]
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