PIPELINE: Corporate Bond Update: $6.5B AT&T 5Pt Launched
Jan-29 18:36
- Date $MM Issuer (Priced *, Launch #)
- 01/29 $7B #Morgan Stanley $2.5B 4NC3 +60, $500M SOFR+77, $4B 11NC10 +85
- 01/29 $6.5B #AT&T $1.5B 5Y +60, $1.25B 7Y +75, $1.25B 10Y +90, $1.25B 20Y +105, $850M 30Y +115
- 01/29 $3.25B #IBM $500M 3Y +40, $500M 5Y +53, $500M 7Y +62.5, $1B 10Y +75, $750M 30Y +95
- 01/29 $3B #Capital One $1.5B 6NC5 +92, $1.5B 11NC10 +117
- 01/29 $1.21B Azul Secured Finance 5NC2
- 01/29 $1B CVR Energy 5NC2 7.625%a, 8NC3 7.875%a
- 01/29 $Benchmark JP Morgan 11NC10 +97
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
BONDS: EGBs-GILTS CASH CLOSE: EGBs End 2025 On Soft Note
Dec-30 18:27
European yields rose slightly Tuesday, in the final cash trading session of the year for EGBs.
- With little impactful data or headlines in the session to catalyse direction, intraday moves were largely flow-related, with yields content to trend higher overall.
- In the only major European data of the session, Spain December headline HICP came in in line with expectations, with the majority of Eurozone countries reporting next week.
- On the day, both the German and UK curves bear steepened, with Bunds underperforming Gilts.
- Periphery/semi-core EGB spreads widened slightly.
- Reminder that while EGBs won't trade again until Friday, there is a shortened session for Gilts Wednesday. There are no data or speakers scheduled until Friday.
Closing Yields / 10-Yr EGB Spreads To Germany
- Germany: The 2-Yr yield is up 0.6bps at 2.121%, 5-Yr is up 1.8bps at 2.448%, 10-Yr is up 2.6bps at 2.855%, and 30-Yr is up 1.7bps at 3.476%.
- UK: The 2-Yr yield is up 0.8bps at 3.728%, 5-Yr is down 0.1bps at 3.951%, 10-Yr is up 1.2bps at 4.498%, and 30-Yr is up 1.1bps at 5.227%.
- Italian BTP spread up 2.1bps at 69.6bps / French OAT up 0.8bps at 70.5bps
US: FED Reverse Repo Operation
Dec-30 18:18
RRP usage inches up to $12.605B with 10 counterparties this afternoon vs. Monday's $10.551B. Compares to December 12 low of $0.838B (lowest level since mid-March 2021); this years highest excess liquidity measure: $460.731B on June 30.
LOOK AHEAD: Wednesday Data Calendar: Weekly Claims, Tsy Bills, Early Close
Dec-30 18:13
Markets close early (1315ET) Wednesday for New Years eve, re-open/electronic trade Thursday evening for Friday's order of business. Tomorrow's shortened session sees Weekly Jobless Claims (0830ET). Followed by US Treasury supply: 4W, 8W & 17W bills at 1130ET.
- US Data/Speaker Calendar (prior, estimate). All times ET
- 12/31 0830 Initial Jobless Claims (214k, 220k), Continuing Claims (1.923M, 1.910M)
- 12/31 1130 US Tsy 4W, 8W & 17W bill auctions
- Source: Bloomberg Finance L.P. / MNI
