MNI US Credit Weekly
Jun-05 19:23By: Douglas Conn and 4 more...
US UtilitiesUSUS TransportationUS Technology+ 11
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Executive Summary
- Spreads widened by 1bp, though they remain near multi-decade lows. Weaker Consumer Discretionary and Communications sector earnings weighed on spreads in those sectors.
- In macro, government yields bear steepened, compounded by a firm NFP release
- Fund flows remained small positive in credit. The pattern of US inflows and outflows elsewhere continued in equities.
- Supply came in above $40B estimates, with 32 issuers pricing over $50B, led by Mastercard’s $5b five-part deal.
