Tuesday, January 27, 2017

Corporate Bond Market

US Equity Futures are flat to start the day with the DJ Futures +2 and the S&P Futures -0.5. Overseas equities are mixed through the overnight. Oil is weaker last at $53.4/ barrel and rates are also down with the 10yr Treasury last at 2.518%. Credit is wider with the Invest Grade Index showing 56.86/57.56 and cash is also weaker.

In credit news, yesterday’s primary market saw one deal priced from Capital One for $2bn priced in Investment Grade Credit. There are a few High Yield deals on the calendar for today from Wildhorse, Jacobs, and Trinidad Drilling.  

In economic data, there are a couple of key reports on the calendar for today. First, the Quarterly Change in Annualized GDP will be announced for Q4, 2016 followed by US Durable Goods Orders.