[MIDDAY UPDATE:] Data Deluge

• No deals were announced today
• Stocks: DOW (+345), S&P500 (+0.27%) and NASDAQ (+0.05%)
• Treasury yields are lower with the benchmark 10yr yielding 3.766% (-3bp), the long bond yielding 4.101% (-3bp), and the 2yr yielding 3.598% (-3bp)
• Corporate spreads are unchanged with the average high grade bond trading 92bp over comparable Treasuries
• Traders in the Fed Funds future market are putting the odds of a 25bp rate cut in November at 45.9% down from 49.6% last week, with a 50bp cut at 54.1% up from 50.4% last week
• Personal Income rose 0.2% in August, lower than the 0.4% expected
• Personal Spending rose 0.2% as well, vs expectations of 0.3%
• Core PCE rose 0.1% on a MoM basis, lower than expectations of 0.2%
• Wholesale Inventories were 0.2% higher in August, in line with expectations
• U of Michigan Sentiment rose to 70.1 vs expectations of 69.4

2024 HIGH GRADE ISSUANCE- 09/23 WEEK, SEPTEMBER & 2024 ESTIMATES

.

.

2024 HIGH GRADE ISSUANCE - RECENT MANDATES

.

.

---- Subscribe to read more ----

To receive this analysis plus much more, subscribe to IGM. Request your free trial of the service today.