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Dealers Return

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Dealers resume issuance after hiatus following end of earnings cycle appr two weeks ago, market uncertainty/increased volatility tied to data (CPI initially), higher/faster rate hikes on inflation spike (underscored by StL Fed Bullard's hawkish missives), and geopolitical risk tied to growing Russia/Ukraine tensions kept many sidelined. While markets have seen some cautious optimism over geopol risks last 36 hours, dealers apparently see this as a good time to resume issuance:

  • Date $MM Issuer (Priced *, Launch #)
  • 02/16 $1B Verizon WNG 30Y Green +165a
  • 02/16 $Benchmark Citigroup 6NC5, 6NC5 FRN
  • 02/16 $Benchmark Mizuho 4.25NC3.25 +105a, 4.25NC3.25 FRN/SOFR, 8.25NC7.25 +135a, 20.25Y +140a
  • 02/16 $Benchmark JP Morgan 4NC3 +100a, 4NC3 FRN/SOFR, 6NC5 +125a, 6NC5 SOFR
  • 02/16 $Benchmark Morgan Stanley 4NC3 fix/FRN +100
  • 02/16 $Benchmark Pacific Gas & Electric 2NC1 +175a, 2NC1 FRN/SOFR, 7Y +220a, 10Y +240a, 30Y +290a
  • 02/16 $Benchmark DTE Electric 10Y +115a, 30Y Green +145a
  • 02/16 $Benchmark KDB 3Y +60a, 5Y +70a, 10Y +90a
  • 02/16 $Benchmark Rep of Turkey 5Y Sukuk 7.5%a

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