Friday, April 7, 2017

Corporate Bond Market

US Equity Futures are up to end the week with the DJ Futures +10 and the S&P Futures +1. The global tone is mixed with overseas mixed through the overnight with European equities mixed and Asian equities stronger. Oil is up, quoted $52.17/ barrel this morning and treasuries are stronger with the 10yr last at 2.32%. Credit is stronger with the Investment Grade Index showing 47.86/49.3 and cash is also tighter.

In credit news, the Thursday’s primary market priced $3.25bn in Investment Grade Credit from six issuers. From yesterday’s issuance, we are active in AutoZone and NY Life. The weekly tally is $29.85bn and $540.225bn YTD. High Yield YTD pricing is just above $85bn.

In economic data, there are some key announcements scheduled for today. US Unemployment, Change in Nonfarm Payrolls, and Wholesale Inventories will be reported this morning followed by Consumer Credit this afternoon.