Corporate Bond Market
US Equity Futures are slightly stronger to start the day with the DJ Futures +17 and the S&P Futures +1. The global tone is positive with overseas equities trading up through the overnight. Oil is down to $ 48.47/ barrel and rates are stronger with the 10yr Treasury last at 1.615%. Credit is firm with the Invest Grade Index showing 68.2/68.8 and cash is also stronger.
In credit news, Monday’s primary market saw $7.15bn priced in Investment Grade Credit. We are active in Pepsi and Xylem from yesterday’s new issuance. There are deals from Bahrain, ERP Operating, Korea Housing Finance Corp, and Realty Income set to price today.