Monday, February 27, 2017

Corporate Bond Market

US Equity Futures are flat to start the week with the DJ Futures -6 and the S&P Futures -1. The global tone is negative with European Equities mixed and Asian Equities trading lower through the overnight. Oil is up to 54.36/ barrel and rates are weaker with the 10yr Treasury last at 2.329%. Credit is wider with the Invest Grade Index at 55.48/56.01 and cash is also weaker.

In credit news, last week’s primary market saw $14.925bn priced in Investment Grade and $2.8 in High Yield Credit. There are new deals announced from: Cheniere Energy, Con Ed, EBRD, Bank of England, Westar, Westpac, Hyundai, Sumi Trust, and Textron for today. On the earnings front, Hertz, Frontier, Priceline, and Tenet Health will be reporting Q4 2016 earnings today.

In economic data, January’s Durable and Capital Goods Orders will be announced followed by January’s Pending Home Sales.