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Daily Archives: 1st November 2020

1st November 2020

🇺🇸 Over to you, Mr President

iTraxx Main

65bp, +0.4bp

iTraxx X-Over

366bp, -1.5bp

🇩🇪 10 Yr Bund

-0.63%, unchanged

iBoxx Corp IG

B+128bp, +2bp

iBoxx Corp HY

B+490bp, +2.5bp

🇺🇸 10 Yr US T-Bond

0.87%, +2bp

🇬🇧 FTSE 100

5,577.27, -0.08%

🇩🇪 DAX

11,556.48, -0.36%

🇺🇸 S&P 500

3,269.96, -1.21%

The US election, what else…

Sit back and watch. Maybe go over October’s dire performance while it all unfolds over the next couple of days. October was grim as the second virus wave sweeps through Europe, creating a new epicentre in its wake. November holds no macro upside for the region. That second wave is also beginning to take hold in the US, with only parts of Asia managing to control a fresh, ravaging outbreak. US GDP bounced back in record-breaking fashion in Q3, and this final quarter should also be positive. However, Q4 macro looks dead in the water in Europe.

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