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US TSY FUTURES

Curve Bull-Flattening Rally Extends

FED

NatWest: Connecting The Dots

EQUITIES

Soft Energy Drags S&P, Dow Lower

FED

TD: Walking The Taper Talk

US PIPELINE
US PIPELINE: High-grade issuance busy; investment grade, high yld CDXes widen:
- Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:
11/27 $700M  *Orix A-/A-              7Y+105              BAML/GS/JPM/MIZ
11/27 $1.5B  #UBS AG Ldn A1/A+        18M FRN 3ML+32      UBS 
11/27 $1.8B  #UBS AG Ldn A1/A+        3Y+65               UBS 
11/27 $!.0B  #UBS AG Ldn A1/A+        3Y FRN:3ML+48       UBS 
11/27 $500M  #Pacific Gas & Electric A2/A- 364day FRN 3ml+23 BAML/C/JPM/MS
11/27 $1.15B #Pacific Gas & Electric A2/A- 10Y +100       BAML/C/JPM/MS
11/27 $850M  #Pacific Gas & Electric A2/A- 30Y+120        BAML/C/JPM/MS
11/27 $300M  *Healthcare Realty Baa2/BBB/BBB 10Y+140      UBS/WFS 
11/27 $300M  *WGL Holdings A3/A/A- 2Y FRN 3ml+40          TD/WFS
11/27 $600M  *Caterpillar Financial    2Y +30            BAML/C/MUFG
11/27 $300M  *Caterpillar Financial    2Y FRN 3ml+13     BAML/C/MUFG
11/27 $600M  *Caterpillar Financial    5Y+52             BAML/C/MUFG
11/27 $425m  *Kilroy Realty  Baa2/BBB  7Y +125           JPM/USB
11/28 $7B? Alibaba Grp Hldgs A1/A+ call Nov27-28 $5B-$7B note C/CS/GS/JPM/MS