Secondary Market Corporate Bond Trading

October 29th, 2015 6:19 am | by John Jansen |

Via Bloomberg:

=============================================================================

 


IG CREDIT: Best Wednesday Moving Average Since April
2015-10-29 09:42:09.576 GMTBy Robert Elson
(Bloomberg) — Secondary IG trading ended with a Trace
count of $18.1b vs $18.2b Tuesday, $17.4b the previous
Wednesday. 10-DMA $16.4b; 10-Wednesday moving avg $16.7b,
highest since $17.3b, April 8.* 144a trading added $2.9b of IG volume vs $2.8b Tuesday, $3b
last Wednesday
* The most active IG issue list does not include the new ACE
deal which is not yet captured by Trace; Bloomberg estimates
that its 2045, 2020, 2026 took the 3 top spots led by client
selling
* GE 4.418% 2035 topped the 144a IG list with client flows
accounting for 75% of volume; client buying 3.5x selling
* Bloomberg US IG Corporate Bond Index OAS at 163.9 vs 165.5;
182.1, the new wide for 2015 and widest level since Aug.
2012 was seen Sept.30; 129.6 was 2015 low; 2014 high/low
144.7/102.3
* BofAML IG Master Index at +166 vs +167; +180, the new wide
for 2015 and the widest level since Sept. 2012, was seen
Oct. 2; +129, the tight for 2015 was seen Mar. 6; 2014 range
was +151/+106, the tightest spread since July 2007
* Standard & Poor’s Global Fixed Income Research IG Index at
+209 vs +210; +219, a new wide for 2015, was seen Oct.2
* Markit CDX.IG.25 5Y Index at 77.7 vs 78.1; 95.1, a new wide
for 2015 and widest level since 97.6 in June 2013, was seen
Oct. 1; 2014 high/low was 76.1/55.0, the low for 2014 and
the lowest level since Oct 2007
* No IG issuance Wednesday vs $11.6b Tuesday; month’s IG
issuance at $106.9b
* YTD IG issuance $1.321T; YTD sans SAS $1.14T
* Pipeline – WBA Back on List

Be Sociable, Share!

Post a Comment