Corporate Bonds

July 31st, 2014 1:02 pm | by John Jansen |

The corporate bond market is a very quiet venue today marked by a dearth of issuance and a virtual vacuum in cash trading. My favorite source reports that the IG 22 is back 5 basis points since yesterday morning but quoted cash spreads have not moved as much in that period. He reports that bank and finance paper is 2 basis points to 3 basis points wider since yesterday morning . Utilities are back about 2 basis points and industrials are unchanged to a basis point wider. He stresses the point that very little is trading and noted that if equities do not make a chunky recovery today and then stabilize tomorrow he would anticipate that end users would trim holdings for the weekend.

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