Thursday, February 23, 2017

Corporate Bond Market

US Equity Futures are up to start the session with the DJ Futures +15 and the S&P Futures +1.50. The global tone is mixed with overseas equities mixed through the overnight. Oil is up to 54.38/ barrel and rates are stronger with the 10yr Treasury last at 2.395%. Credit is firm with the Invest Grade Index showing 55/55.6 and cash is also tighter.

In credit news, yesterday’s primary market saw $5.725bn priced in Investment Grade Credit. From yesterday’s new issuance, we are active in Mizuho and Chimera Investment Corp. On the earnings front, Popeye’s, Kohl’s, and Tesla outperformed analysts’ estimates for Q4 2016. There are new deals announced from CDW Corp and Banske Bank for today’s business.

In economic data, Jobless Claims and the monthly change in FHFA House Price Index will be reported today.