Thursday, March 23, 2017

Corporate Bond Market

US Equity Futures are up to start the sessions with the DJ Futures +15 and the S&P Futures +4.75. The global tone is mixed with overseas equities mixed through the overnight. Oil is stronger, quoted $48.28/ barrel this morning and treasuries are weaker with the 10yr last at 2.412%. Credit is tighter with the Investment Grade Index showing 52.33/53.49 and cash is also stronger.

In credit news, Wednesday was a light day in new issuance with the primary market pricing $5.2bn in Investment Grade Credit with Goldman Sachs leading the charge. From yesterday’s issuance, we are active in Goldman Sachs, Santander and Kimco Realty.

In economic data, US Jobless Claims and Februaries New Home Sales will be reported this morning.