Trump still the news

Lights out for summer…

So, that’s it for this first part of the year. We’re already into the extended summer holiday period. The corporate bond market doesn’t seem like it is in the mood to play ball for another week or so as judged by the dross of primary deal flow. We believed that the window for new deals was open and we would get a decent chunk of them away through to the end of next week, but the activity that we’re seeing tells us otherwise.

Whether the US/China trade war is culling investors’ appetite for risk – given all that situation entails for growth – or we’re finally just exhausted after several years of having to trade through a multitude of geopolitical and macro event risk situations, it does look like the market is well into wind-down mode for the summer.

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