Thursday, October 13, 2016

Corporate Bond Market

US Equity Futures are down to start the day with the DJ Futures -110 and the S&P Futures -13.25. The global tone weak with overseas equities trading down through the overnight. Oil is stronger, last at $50.28/ barrel and rates are also up with the 10yr Treasury last at 1.748%. Credit is wider with the Invest Grade Index showing 69.45/70.12 and cash is also weaker.

In credit news, there are a handful of deals on the calendar for today. Keep a look out for TOYOTA issuing 3yr and 5yr bonds in addition to: Access Bank, CSX, ECOLAB, Global Bank, Lions Gate, and Korea.

In economic data, US Initial Jobless Claims fell 3k to a 42 year low. Also, US Import Prices rose .1% in September showing a stable US dollar.