Corporate Bond Market
US Equity Futures are down to start the week with the DJ Futures -134 and the S&P Futures -18.50. The global tone is weak with overseas equities trading down through the overnight with the exception of Tokyo. Oil is weaker, quoted $47.57/ barrel this morning and treasuries are stronger with the 10yr last at 2.357%. Credit is tighter with the Investment Grade Index showing 52.33/53.49 and cash is also stronger.
In credit news, last week’s primary market saw $24.075bn priced in Investment Grade Credit and $4bn in High Yield Credit. March’s Investment Grade monthly tally has risen to $104.23bn and this week is expected to bring $25-$30bn.