Thursday, April 6, 2017

Corporate Bond Market

US Equity Futures are up to start the day with the DJ Futures +27 and the S&P Futures +2.75. The global tone is mixed with overseas mixed through the overnight. Oil is up, quoted $51.43/ barrel this morning and treasuries are weaker with the 10yr last at 2.352%. Credit is stronger with the Investment Grade Index showing 48.56/50 and cash is also tighter.

In credit news, the Wednesday’s primary market priced $16.2bn in Investment Grade Credit from seven issuers. Sinopec led the charge with their $3.4bn, 4 tranche deal. From yesterday’s issuance, we are active in: Sinopec, Quebec, Airbus, and UniCredit. Today’s calendar is expected to be a bit lighter.  

In economic data, Jobless Claims will be reported this morning.