Archive
Daily Archives: 27th September 2018
27th September 2018
- by Suki Mann
September squeezed dry
| MARKET CLOSE: | ||
| iTraxx Main
67.1bp, -0.4bp |
iTraxx X-Over
267.1bp, -1.4bp |
🇩🇪 10 Yr Bund
0.53%, unchanged |
| iBoxx Corp IG
B+129.4bp, unchanged |
iBoxx Corp HY
B+376.3bp, +0.5bp |
🇺🇸 10 Yr US T-Bond
3.07%, unchanged |
| 🇬🇧 FTSE 100 [wp_live_scraper id=”17″], [wp_live_scraper id=”18″] | 🇩🇪 DAX [wp_live_scraper id=”19″], [wp_live_scraper id=”20″] | 🇺🇸 S&P 500 [wp_live_scraper id=”21″], [wp_live_scraper id=”22″] |
Issuance run ends, for good reason…
We had a quieter session on Thursday and it looks like there could be a premature end to the month’s activity. It’s been an excellent one, to be fair. But it was still a bit of a surprise – given that we were all guns blazing and ignoring the potential for event-risk to stop the party. That said, we concede that it was probably no bad thing that the primary market was less effusive because it allows the heavy load of recent new issues to be absorbed. After all, we have had €10bn of IG non-financial issuance in just three sessions this week. The month is now the best of the year so far with €33bn in the bag.
Importantly, any potential for investor indigestion brought on by a deal overload will have been prevented.
