🇺🇸❗️U.S. Financial Conditions Tightened Further: Cable FX Macro

**As seen in Macro Walk report 10/20/23, subscribe at cablefxm.co.uk/reports

• U.S. financial conditions have tightened to levels not seen since April, according to data compiled by Bloomberg. U.S. bond markets have seen yields rise in recent weeks, while equity benchmarks trade lower

• Corporate bond yields rated 'BAA' by Moody's have widened their spread to the U.S. 10yr yield, the differential is now at the highest in more than a month but below its 12-month average. A measure of U.S. corporate high-yield vs the 10yr yield is set to rise for a second consecutive month in October. The S&P 500 is now below 4,200 and is set to post a second consecutive month of losses, the VIX remains above 20.0