Monday, January 26, 2017

Corporate Bond Market

US Equity Futures are up to start the day with the DJ Futures +27 and the S&P Futures +1. Overseas equities are mixed through the overnight. Oil is stronger, last at $52.93/ barrel and rates are weaker with the 10yr Treasury last at 2.54%. Credit is wider with the Invest Grade Index showing 57.05/57.7 and cash is also weaker.

In credit news, yesterday’s primary market saw $10.95bn priced in Investment Grade Credit and $1.135bn priced in High Yield. From yesterday’s issuance, we are active in JPM and Smithfield. There are a few deals announced from Rusal Capital and The Province of Ontario on the calendar for today’s business.

In economic data, today has a handful of reports on the agenda. First, the Monthly Change in Wholesale Inventories for December will be announced followed by this week’s tally of Initial Jobless Claims/Continuing Claims. Later this morning, the Monthly Change in New Home Sales for December along with December’s Monthly Change in the US Conference Board’s Leading Index.