Corporate Bonds
December 3rd, 2008 3:23 pm | by John Jansen |The corporate bond market was something of a quiet backwater today. There was no meaningful issuance except in the FDIC guaranteed sector where Wells announced a $6billion deal.Yesterday was a heavy issuance day with Hewlett Packard and Caterpillar offering benchmark size deals. The Hewlett Packard 5 year priced at T+ 460 and is currently 440 bid.
Caterpillar priced a 10 year at T+ 525 and this issue is bid there at the moment. The 30 year CAT priced at 510 and is 485 bid. For the record, the 10 year deal was $900million and the 30 year deal was just $250million.
I still love to watch the AMEX 5 year which is 675/655.
The 10 year GE is 395/375.
The IG 11 is 263/265.
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