Market Wrap
Friday Workout - Going Private; Celsius and Fear and Fright; Stress Management
- Chris Haffenden
•16 min read
We had barely hit send on last week’s Friday Workout before markets came under renewed pressure. A much higher than expected US CPI print, coupled with hawkish talk from the ECB a day earlier was enough for fearful traders and investors to take fright. Two-year US Treasury yields rose by 25bps on Friday, the largest one-day move since 2009. Our internal price screeners saw whole swathes of HY bonds move by more than 2% in less than a couple of hours.