Recap Secondary Corp Trading Yesterday

August 29th, 2014 6:52 am | by John Jansen |

Via Bloomberg

IG CREDIT: Long VZ Issues Led Trading; 2 Set to Price Today
2014-08-29 10:06:34.823 GMT

By Robert Elson
Aug. 29 (Bloomberg) — The final Trace count for secondary
trading was $8.1b vs $11.1b Wednesday and $11.7b the previous
Thursday. 10-DMA drops to $9.6b, a new low for 2014, vs $10b, as
$12b on Aug 14 drops from the count.
* 144a trading added another $1.2b of IG volume
* VZ 6.40% 2033 topped the most active list with client
selling over 3x buying, together accounting for 78% of
volume
* TELEFO 6.421% 2016 next; two-way client flows took 100% of
volume
* VZ 6.55% 2043 was third; client flows took 98% of volume
* VZ 4.862% 2046 was most active 144a issue; client flows
accounted for 83% of volume
* BofAML IG Master Index at +112 vs +111; +106, its low for
2014 and the tightest spread since July 2007 was seen June
24; year wide +132
* Standard & Poor’s Global Fixed Income Research IG Index at
+146, unchanged; +140, a new 2014 low and new post-crisis
low was seen July 30; +164, the wide for 2014 was seen 4x in
Feb
* Markit CDX.IG.22 5Y Index closed at 56.7 vs 56; 55 was seen
July 3, the low for 2014 and the lowest level since Oct
2007; 2014 high of 74.5 was seen Feb 3; 2013 range 97.6 to
62
* IG issuance was $3b Thursday vs $1.5b Wednesday, $750m
Tuesday and zero Monday
* BofAML tops the IG manager’s list for the month
* IG issuance YTD $926.4b
* KBN, NEDWBK set to price; more names added for September

Be Sociable, Share!

Post a Comment