Corporate Bond Market
Stocks fell for the first time in three days in Europe and shares in Asia extended a seventh weekly decline as equities in Hong Kong resumed losses. This morning US equity futures are down with the DJIA -168 and S&P -18.50. All eyes are on the payroll number this morning and investors look to this data that may bolster the case for the Federal Reserve to raise interest rates. Oil is off slightly this morning at $46.56/bbl. The US Treasury 10 yr yields 2.24% this morning and the IG Index is off 1 ¼ at 83/83 ½.
It was another day without a new deal in the primary investment grade market and was quiet on the corporate news front.
In addition to the payroll number this morning’s releases include the unemployment rate and Average hourly earnings reports, all at 8:30 am.