EM LATAM CREDIT: MNI EM Credit: Latin America USD Bond Spread Movements MTD

May-21 17:41

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* Low beta sovereign benchmark bond spreads moved about 25-30 bps tighter month to date and investme...

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LOOK AHEAD: Tuesday Data Calendar: Fed Speakers, Richmond Fed Data, 2Y Note Sale

Apr-21 16:34
  • US Data/Speaker Calendar (prior, estimate)
  • 22-Apr 0830 Philadelphia Fed Non-Mfg Activity (-32.5, --)
  • 22-Apr 0900 Fed Gov Jefferson, Economic Mobility Summit
  • 22-Apr 0930 Philly Fed Harker, Economic Mobility Summit
  • 22-Apr 1000 Richmond Fed Mfg Index (-4, -6)
  • 22-Apr 1000 Richmond Fed Business Conditions (-14, --)
  • 22-Apr 1130 US Tsy $70B 6W bill auction
  • 22-Apr 1300 US Tsy $69B 2Y Note auction (91282CMY4)
  • 22-Apr 1340 MN Fed Kashkari Speaks moderated discussion
  • 22-Apr 1430 Richmond Fed Barkin fireside chat (no text, Q&A)
  • 22-Apr 1800 Fed Gov Kugler on Mon/Pol Transmission (text, Q&A)

US TSY FUTURES: BLCK: Jun'25 5Y Buy

Apr-21 16:01
  • +6,500 FVM5 108-16.25, buy through 108-15.75 post time offer at 1148:59ET, DV01 $267,000. The 5Y contract trades 108-15.75 last (+2.5)

PIPELINE: Corporate Bond Update: $5B Amex 4Pt Launched

Apr-21 15:57

Amex dropped the 6NC5 SOFR leg:

  • Date $MM Issuer (Priced *, Launch #)
  • 04/21 $5B #American Express $1.6B 4NC3 +98, $400M 4NC3 SOFR+126, $1.5B 6NC5 +108, $1.5B 11NC10 +128
  • 04/21 $700M Excelerate Energy 5NC2
  • 04/21 $2B QXO Inc. 7NC3 investor calls