Thursday, March 2, 2017

Corporate Bond Market

US Equity Futures are up to start the day with the DJ Futures +21 and the S&P Futures -1. Overseas equities are mixed through the overnight. Oil is down to 53.04/ barrel and rates are weaker with the 10yr Treasury last at 2.472%. Credit is stronger with the Invest Grade Index showing 52.17/52.71 and cash is tighter.

In credit news, yesterday’s primary market saw $15.375bn priced in Investment Grade Credit from 10 issuers. From yesterday’s issuance, we are active in: Disney, Brixmor, Telefonica, and Macquarie Bank. There are new deals announced from: JP Morgan, Swedish Export Credit, Goodyear Tire, Howard Hughes, Comm Scope, Ladder Capital, Navient and Mongolia on the calendar for today’s business.

In economic data, Initial Jobless Claims were less than expected for February and Continuing Claims were slightly higher than the survey estimate. Later, Bloomberg Consumer Comfort Index will be reported.