Corporate Bond Market
US Equity Futures are fairly flat to start the session with the DJ Futures +5 and the S&P Futures -0.5. The global tone is positive with overseas equities trading higher through the overnight. Oil is down to $50.44/ barrel and rates are rallying with the 10yr Treasury last at 2.367%. Credit is firm with the Invest Grade Index showing 61.97/62.75 and cash is also tighter.
In credit news, Tuesday’s primary market saw $7.65bn priced in Investment Grade Credit. From yesterday’s issuance, we are active in: Pemex, CBL, and PNC. There are new deals from: Antero, BNP, and Tervita on the calendar for today’s business.
In economic data, there are a few key announcements on the calendar for today. First, Mortgage Applications fell 0.7% last week. Later today, Job Openings and Consumer Credit tally for October will be reported.