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Daily Archives: 4th December 2018

4th December 2018

Christmas came early!

iTraxx Main

81.7bp, +2.7bp

iTraxx X-Over

329bp, +0.3bp

🇩🇪 10 Yr Bund

0.26%, -5bp

iBoxx Corp IG

B+170.7bp, +2.7bp

iBoxx Corp HY

B+502.4bp, +8bp

🇺🇸 10 Yr US T-Bond

2.93%, -6bp

🇬🇧 FTSE 100

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🇩🇪 DAX

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🇺🇸 S&P 500

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Turkey cooked too early…

The potential for some kind of a tariff deal. US Treasuries yielding less than 3% in the 10-year. A good rally in equities to kick off the month’s proceedings. Even oil prices on the way up. A drive-by, €4.5bn offering in primary taken down well and a feel good factor which, if it continued, would soon see 10-year BTP yields heading to sub-3.00% levels, boosted by reports that Italy would yield to Brussels’ demands. Christmas felt like it had come early.

But alas, ’twas just a false alarm!

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