Corporate Bonds
October 27th, 2008 2:36 pm | by John Jansen |Corporate bonds are slightly wider when one employs the IG 11 as a measuring stick. The Index is closing 214/216 which leaves it about 4 ½ basis points wider on the day.The new issue machine was not open today and consequently, there was no supply.
One salesman noted particular strength in regional banks and observed some end user buying of the sector.
Amongst my favorite issues the 5 year American Express seems to have found support at the +800 level as it is now quoted 825/775.
The 5 year Pepsico edges tighter and clears today at 375/365.
And the 10 year General Electric languishes 465/445.
