Corporate Bond Market
US Equity Futures are down to start the week with the DJ Futures -57 and the S&P Futures -7. The global tone is negative with overseas equities trading lower in Europe and mixed in Asia. Oil is up to $46.22/ barrel and rates are stronger with the 10yr Treasury last at 2.338%. Credit is wider with the Invest Grade Index showing 65.4/66.5 and cash is also weaker.
In credit news, last week’s primary market saw $7.5bn priced in Investment Grade Credit. Clients are expecting over $20bn of issuance this week following the holiday week. There are deals on the calendar for today’s business from SunTrust, Cogent, and Advance Pierre Foods so far.
In economic data, Dallas Fed Manufacturing Activity for November will be reported.