Monday, January 9, 2017

Corporate Bond Market
US Equity Futures are down to start the session with the DJ Futures -22 and the S&P Futures -2. European equities are trading lower and Asia is mixed through the overnight. Oil is up to $54.08/ barrel and rates are weaker with the 10yr Treasury last at 2.35%. Credit is wider with the Invest Grade Index showing 56.9/57.7 and cash is also weaker.

In credit news, Thursday’s primary market saw $16.6bn priced in Investment Grade Credit and $600mn priced in High Yield. The weekly total topped $60bn in Investment Grade and $800mn in High Yield. From yesterday’s new issue, we are active in Comcast and SocGen.

In economic data, there are a handful of few announcements scheduled for today. First, the US Trade Balance will be released followed by the change in monthly Nonfarm Payrolls and Manufacturing Payrolls. Also, December’s US Unemployment Rate will be reported along with November’s Factory, Durable, and Capital Goods Orders.