Monday, February 6, 2017

Corporate Bond Market

US Equity Futures are fairly flat to start the week with the DJ Futures -3 and the S&P Futures -1. The global trend is negative with overseas equities trading lower through the overnight. Oil is up to $53.96/ barrel and rates are weaker with the 10yr Treasury last at 2.446%. Credit is wider with the Invest Grade Index showing 56.98/57.69 and cash is also tighter.

In credit news, last week’s primary market saw $45.8bn priced in Investment Grade Credit with tech giants Apple, Microsoft and AT&T leading the way. In the High Yield space, $5.745bn was priced last week. There are deals from: Amerigas, Post Holdings and Vale Overseas on the calendar for today’s business.

On the earnings front: Hasbro, Sysco and Tyson Foods beat analysts’ estimates for Q4 2016. Later today, 21st Century Fox will be releasing their earnings from the prior quarter.