Free Trial

CREDIT SUPPLY: BMO Final Spread: MS+100bp, Decent NIC, Lower Book vs. DB

CREDIT SUPPLY

BMO (BMO: A2/A-/AA-) final spread MS+100bp (we have fair value at MS+85-90bp) and books are at EUR1.9bn for benchmark size. IPT was MS+120-125bp. A decent NIC, in our view and book coverage significantly lower than DB’s issue this morning, we feel.

“FINAL SPREAD: Bank of Montreal EUR Benchmark 6NC5 MS+100” - BBG

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.