Thursday, September 29, 2016

Corporate Bond Market

US Equity Futures are flat to start the session with the DJ Futures +1 and the S&P Futures -1. The global tone is positive with overseas equities trading up through the overnight with the exception of Japan. Oil is down to $ 46.99/ barrel and rates are also weaker with the 10yr Treasury last at 1.587%. Credit is wider with the Invest Grade Index showing 69.1/69.7 and cash is also weaker.

 In credit news, yesterday’s primary market saw $6.4bn priced in Investment Grade Credit; bringing the monthly total to $162.21bn. There were no High Yield deals brought; keeping September’s tally at $25.42bn.

 In economic data, there are a few key announcements scheduled for today. First, the quarterly change in US Annualized GDP for Q2 will be released this morning. Following, Initial/Continuing Jobless Claims will be reported. Finally, the monthly change in Pending Home Sales for August will be announced.