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*** Some color on jumbo 9-tranche CVS......>

PIPELINE: *** Some color on jumbo 9-tranche CVS issuance, estimated to be in the
top 3 of the largest corporate debt sales ever. Sources note the book has
ballooned to $107B vs. est. $45B
* 2yr FRN 3.5B
* 2yr 4.75B
* 3yr FRN 3.5B
* 3yr: 7.250B
* 5yr: 13.5B
* 7yr: 11.750B
* 10yr: 20B
* 20yr: 16.750B
* 30yr: 25.5B
Additional insight, sources point out two prior mega deals $49B Verizon from Sep
11, 2013 and $46B AB InBev from Jan 13, 2016 preceded a significant drop in 10Y
Tsy ylds that lasted weeks (Verizon) to months (AB). 

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