Thursday, December 8, 2016

Corporate Bond Market

US Equity Futures are up to start the day with the DJ Futures +20 and the S&P Futures +2.25. The global tone is positive with overseas equities trading higher through the overnight with the exception of Hong Kong. Oil is up to $50.20/ barrel and rates are weaker with the 10yr Treasury last at 2.365%. Credit is wider with the Invest Grade Index showing 60.8/61.7 and cash is also weaker.

In credit news, Wednesday’s primary market saw $2.45bn priced in Investment Grade Credit, led by the Bank of Montreal. The weekly total is just shy of $16.5bn. From yesterday’s issuance, we are active in EPR Properties and Flushing Bank. There is a new deal from GTT Communications on the calendar for this afternoon.

In economic data, Jobless Claims will be reported this morning followed by the change in US Households Net Worth.