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Daily Archives: 20th June 2018

20th June 2018

UK rebellion off

MARKET CLOSE:
iTraxx Main

67.7bp, -1bp

iTraxx X-Over

300.1bp, -1.3bp

🇩🇪 10 Yr Bund

0.37%, unchanged

iBoxx Corp IG

B+126.4bp, +0.2bp

iBoxx Corp HY

B+382bp, unchanged

🇺🇸 10 Yr US T-Bond

2.91%, +1bp

🇬🇧 FTSE 100

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🇩🇪 DAX

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🇺🇸 S&P 500

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Respite session welcomed…

It was a regular day in the markets on Wednesday and a better one for risk assets to go with it. Geopolitical and macroeconomic event risk took a back seat and it seemed like the whole of the market converged on Westminster for that crucial EU Withdrawal Bill vote. It was last chance saloon for the remainers to get Parliament to have a ‘meaningful’ vote on any final deal which the UK government may or may not agree with the EU. They failed with some sort of fudge agreed which effectively kicked the can down the road (to January). In credit, borrowers queued up to get deals away and there was a clear financials bias to the supply although several non-financial issuers were also on the screens.

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