Thursday, May 25, 2017

Corporate Bond Market

US Equity Futures are up to start the session with the DJ Futures +67 and the S&P Futures +6. Overseas equities are mixed through the overnight with European and Asian markets mixed. US Treasuries are stronger with yields on the 10 yr last at 2.247% and oil is down, last quoted $50.71/barrel. Credit is tighter with the Investment Grade Index showing 44.25/45.81 and cash is also stronger.

In credit news, Wednesday’s primary market saw $8.25bn priced from 4 issuers in Investment Grade Credit. This brings the monthly tally to $48.425bn. From yesterday’s new deals, we are active in Home Depot. Today is expected to be another light day in new issuance with the holiday weekend approaching.

In economic data, Wholesale Inventories and Jobless Claims will be announced this morning.