Tuesday, March 21, 2017

Corporate Bond Market

US Equity Futures are up to start the session with the DJ Futures +20 and the S&P Futures +5. The global tone is positive with overseas equities mostly higher through the overnight. Oil is stronger, quoted $48.58/ barrel this morning and treasuries are weaker with the 10yr last at 2.492%. Credit is tighter with the Investment Grade Index showing 52.33/53.49 and cash is a stronger.

In credit news, Monday’s primary market saw $4.625bn priced in Investment Grade Credit with Heineken accounting for almost half of that tally. We are active in both new Heineken 10yr and 30yr issues. There are deals announced from DNB Boligkreditt AS, KCA Deutag UK, ING Groep, and Shinhan Bank for today’s business.

In economic data, US Nominal Account Balance will be reported this morning.