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Daily Archives: 6th June 2018

6th June 2018

Hawkish sounds from the ECB

MARKET CLOSE:
iTraxx Main

69.7bp, +2.6bp

iTraxx X-Over

300.9bp, +7.5bp

🇩🇪 10 Yr Bund

0.46%, +9bp

iBoxx Corp IG

B+127bp, unchanged

iBoxx Corp HY

B+375.5bp, -1.3bp

🇺🇸 10 Yr US T-Bond

2.97%, +5bp

🇬🇧 FTSE 100

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🇩🇪 DAX

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🇺🇸 S&P 500

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…Raise alarm

We’ve been hoping for a good June. But we keep hitting hurdles which stop us rallying in any sustainable or material way. There’s just a constant drip feed of news which makes us wary and then unwilling to chase the markets higher.

On Wednesday, safe-havens sold off some more after word from influential ECB board members that the Eurozone’s economy was looking in decent shape bolstered the view that QE could be over come year-end. They meet next week. Equity markets wanted to rise, but the rally was checked – not helped also as the EU prepared its US import-tariff response, expecting them to be implemented by the beginning of July.

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