PERU: MNI BCRP Preview - Dec 2025: Further Easing May Be Considered

• US TSY 3Y AUCTION: NON-COMP BIDS $157 MLN FROM $58.000 BLN TOTAL

House Speaker Mike Johnson (R-LA) told House Republicans during a private conference call today that GOP leadership is aiming for a Wednesday vote on the Senate funding package to reopen the government. According to Mychael Schnell at MCNBC, Johnson urged House Republicans to begin travelling back to Washington, DC, immediately, in light of shutdown-related travel issues. 

• As noted in previous bullet, a Wednesday vote in the House will depend on Senate Majority Leader John Thune (R-SD) gaining unanimous consent to speed up final passage in the Senate. Because Senate Democrats can no longer block the package, there is little to gain politically from slowing down the process. See: US: Senate Convenes To Work On Funding Package, Focus On Time Agreement
• The Washington Post notes that House Minority Leader Hakeem Jeffries (D-NY) 'trashed' the Senate deal during a Capitol Hill press conference, but defended Senator Minority Leader Chuck Schumer (D-NY). The prevailing view is that a handful of moderate House Democrats could vote in favour of the package, ensuring its passage to President Donald Trump's desk. 
• Marianna Sotomayor at the Post notes on X: "There is no formal whip count, but Democrats speculate maybe five lawmakers support the Senate bill - & that's a big if. A majority of lawmakers are mad they fought to get nothing, and worry that House GOP leadership won't guarantee a healthcare vote. So what's the point?"

• Date $MM Issuer (Priced *, Launch #)
• 11/10 $900M *Mosaic $500M +3Y +77, $400M 5Y +92
• 11/10 $Benchmark Verizon** 5pt: +7Y +90, +10Y +100, 20Y +110, 30Y +120, 40Y +130
• 11/10 $Benchmark Enterprise Products Operating 3Y Tap +70a, 5Y Tap+95a, 10Y tap +120a
• 11/10 $Benchmark Plains All American 5Y +130a, 10Y +170a
• 11/10 $Benchmark LyondellBasell 5Y +147, 10Y +185
• 11/10 $Benchmark Caterpillar 3Y +62.5a, 3Y SOFR
• 11/10 $Benchmark Flex 7Y +130a, 10Y +155a
• 11/10 $Benchmark AutoNation +3Y +115a
• 11/10 $700M Carpenter Tech 8.25NC3.25
• 11/10 $500M Illumina WNG 5Y +125a
  • ** Note on Verizon is in the top 10 largest issuers on record TWICE. At number 1: $49B on Aug 11, 2013, followed by $25B over 9 tranches on March 11, 2021. Today's issuance may not be as robust, but an estimated $10B from Verizon over 5 tranches not unlikely.
• 11/10 $2.35B Applied Digital 5NC2 investor call, expected to launch Thursday