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Daily Archives: 21st October 2020

21st October 2020

⚖️ 2020’s performance hangs in the balance

MARKET CLOSE:
iTraxx Main

54.5bp, -0.3bp

iTraxx X-Over

326.9bp, -4bp

🇩🇪 10 Yr Bund

0.59%, +1bp

iBoxx Corp IG

B+122bp, -0.5bp

iBoxx Corp HY

B+462bp, -2.5bp

🇺🇸 10 Yr US T-Bond

0.82%, +2bp

🇬🇧 FTSE 100

[wp_live_scraper id=”17″], [wp_live_scraper id=”24″]
🇩🇪 DAX

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🇺🇸 S&P 500

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Getting to the crunch time…

It seems that the Covid second wave is going to wreak havoc across Europe – which will keep a lid on any meaningful market rally for the moment. That rally, though, could come – in the US especially – if we get that fiscal stimulus agreement. They’re into negotiation overtime but the word is that they’re close to agreeing something.

That would be a case of one down, three to go. The three? US election, a coronavirus vaccine and a Brexit trade agreement. It’s wishful thinking perhaps that we get all falling over the right side of the line (Barnier is already beginning to make the right noises, for example), but it also highlights how finely balanced everything is.

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