Trial now
EURJPY TECHS

Pressuring Resistance

USDJPY TECHS

Testing Trendline Support Again

EURGBP TECHS

Attention Is On Resistance

GBPUSD TECHS

Through 1.4000

EUROZONE T-BILL ISSUANCE

Bill Supply For W/C May 10, 2021

EURUSD TECHS

Resumes Its Upleg

     
Date $MM Issuer/Rating/Desc/Maturity/Yld; Priced *; Launch #
03/20 $8B #Intel 6-pt: $1.5B 5Y +290, $1B 7Y +295, $1.5B 10Y +295, $750M 20Y
+295, $2.25B 30Y +310, $1B 40Y from +340
03/20 $B #Coca-Cola 5-pt: $1B 5Y +245, $1B 7Y +255, $1.25B 10Y +255, $500M 20Y
+250, $1.25B 30Y +260
03/20 $1.25B #Berkshire Hathaway Energy Co 5Y +380a
03/20 $1.1B *Schwab $600M 5Y +370, $500M 10Y +370
03/20 $700M #Moody's 5Y +325
03/20 $350M Appalachian Power 10Y +337.5a
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Unexpectedly large $18.55B issuance Thu ($45.39B/wk)
03/19 $6B *Walt Disney Co: $1.75B 5Y +270, $500M 7Y +270, $1.25B 10Y +270, $750M
20Y +275 and $1.75B 30Y +285
03/19 $3.5B *UPS: $1B 5Y +325, $750M 10Y +335, $500M 20Y +335, $1.25B 30Y +345
03/19 $2.5B *JP Morgan Chase 11NC10 +340
03/19 $2.25B *Northrop Grumman $750M 10Y +330, $500M 20Y +330, $1B 30Y +340
03/19 $2B *Morgan Stanley 31NC30 +375
03/19 $1.3B *Citigroup 21NC20 +350
03/19 $1B *Metlife Inc 10Y +350
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03/18 No new supply Wednesday
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03/17 Exxon and Pepsi jumbos comprised most than half Tue's whopping $26.84B
issuance; GS snuck in late w/$2.5B 10Y, BoA priced late. 
03/17 $8.5 *Exxon Mobil Corp $1.5B 5Y +225, $1B 7Y +230, $2B 10Y +240, $1.25B
20Y +250, $2.75B 30Y +260
03/17 $6.5B *PepsiCo $1.5B 5Y +160, $500M 7Y +180, $1.5B 10Y +180, $750M 20Y
+190, $1.5B 30Y +200, $750M 40Y +230
03/17 $3.5B *Verizon $750M 7Y +215, $1.5B 10Y +225, $1.25B 30Y +250
03/17 $3B *Bank of America 31NC30 fix/FRN +260
03/17 $2.5B *Goldman Sachs 10Y +300
03/17 $1B *Progressive $500M 10Y +225, $00M 30Y +245 
03/17 $800M *Oncor Electric Delivery $400M each 10Y +175, 30Y +205
03/17 $465M *Union Electric WNG 10Y +220
03/17 $575M *Consumers Energy 31Y +200 *upsized
-
03/16-03/12 No new issuance since Wednesday; Scant $6.2B priced on week ($38.95B
on month)
-
03/11 $1B *International Finance Corp (IFC) WNG 3Y +13
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$5.2B priced Tuesday, first of week
03/10 $2.25B *JP Morgan 6NC5 +145
03/10 $1.75B *Starbucks $500M 7Y +140, $750M 10Y +165, $500M 30Y +225
03/10 $550M *Duke Energy Indiana WNG 30Y +165
03/10 $650M *Textron 10Y +237.5
Canadian issuance
03/10 C$1.75B *Bank of Nova Scotia 3Y tap +127
03/10 C$1.75B *TD 30Y +145
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Nothing priced Monday; issuance remains at $32.75B for month
- 
No new issuance Friday; $31.75B priced on week, $32.75B for month
-
$8.15B priced Thursday, 
03/05 $2.15B *Daimler Finance $1.25B 3Y +120, $450M each: 5Y +155, 10Y +175
03/05 $1.5B *Prudential Financial $500M each 6Y +90, 10Y +120, 20Y +145
03/05 $1.5B *Bank of Montreal 3Y FRN SOFR+68
03/05 $1.25B *Kommunalbanken 5Y +15
03/05 $700M *KeyBank 3Y +65
03/05 $550M *EBRD 3Y FRN SOFR+26
03/05 $500M *Martin Marietta 10Y +170
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Surprise $18.2B priced Wednesday; $23.6B/wk
03/04 $4.25B *Truist Bank $1.25B 3Y +58, $500M 3Y FRN SOFR+73, $1.25B Each: 5Y
+78, 10Y +123
03/04 $3.5B *Cigna $1.1B 10Y +142, $750M 20Y +157, $1.25B 30Y +177
03/04 $3.5B *World Bank (IBRD) 5Y +10
03/04 $1.1B *So. California Edison $400M 10Y +125, $700M 30Y tap +170
03/04 $1B *John Deere Capital $500M each: 3Y +53, 7Y +88
03/04 $1B *Ebay $00M each 5Y +120, 10Y +170
03/04 $1B *Newmont Corp 10Y +135
03/04 $800M *JM Smucker %500M 10Y +140, $300M 30Y +195
03/04 $500M *Berkshire Hathaway WNG 10Y +87.5
03/04 $500M *Waste Connections, 30Y +150
03/04 $300M *Healthcare Realty WNG 10Y +145
03/04 $500M *Avery Dennison 10Y +170
03/04 $250M *L3Harris WNG 3Y +75
-
$5.4B priced Tuesday, McDonalds helped break near two week string of no corp
issuance
03/03 $2B *McDonalds Corp $500M 5Y +75, $750M each: 10Y +115, 30Y +160
03/03 $1B *Sherwin Williams $500M each 10Y +130, 30Y +170
03/03 $800M *American Electric Power WNG $400M each 10Y +130, 30Y +165
03/03 $500M *Canadian Pacific Railway 10Y +105
03/03 $350M *Entergy Louisiana 31Y +130
03/03 $750M *Texas Instruments 5Y +60
-
Only $1B priced this week, virus pandemic-induced mkt risk kept issuers
sidelined after whopping $107.5B for month
02/27 $1B *European Investment Bank (EIB) WNG 4Y SOFR+28
-
$1B priced Wednesday
02/26 $1B *Canada Pension Plan Investment Board (CPPIB) WNG 5Y +16
-
No new issuance Monday-Tuesday. Virus pandemic-induced mkt risk keeping many
issuers sidelined after whopping $106.5B for month so far. Lowering estimate for
week to under $20B
-
$500M priced Friday; Amgen, Otis jumbos made up near third $35.85B total last
week, 
02/21 $500M *Grainger 5Y +60
-
$3.25B priced Thursday
02/20 $1.5B *PNC Bank $500M 3NC2 +35, $1B 3NC2 FRN +32.5
02/20 $1B *Council Of Europe Development Bank (COE) WNG 5Y +8
02/20 $750M *Citrix 10Y +185
-
$11.7B priced Wednesday
02/19 $5.3B #Otis Worldwide Corp jumbo: $500M 3NC1 +45, $1.3B 5Y +65, $500M 7Y
+80, $1.5B 10Y +100, $750M 20Y +110, $750M 30Y +135
02/19 $1.25B *BP Capital Markets AM 30Y +107
02/19 $1B *Tennessee Gas Pipeline 10Y +135
02/19 $1B *Halliburton 10Y +135
02/19 $750M *KLA Corp 30Y +130
02/19 $600M *Omnicon 10Y +92
02/19 $300M *FNB Corp 3Y +83
02/19 $1.5B *JP Morgan perp NC5 4.0%
-
Tuesday kicked off with whopping $20.4B high-grade issuance
02/18 $5B *Amgen 5-part: $500M 5Y +55, $750M 7Y +75, $1.25B@: 10Y +90, 20Y +117,
30Y +137
02/18 $3.75B *MUFG $2.6B 5Y +80, $1.15B 10Y +100
02/18 $2.35B *Mizuho Fncl $1.1B 4.25NC3.25 +63, $750M 6.25NC5.25 +83, $500M
11.25NC10.25 +103
02/18 $2B *Gazprom 10Y 3.25%
02/18 $1.75B *BNP Paribas Perp NC10 4.5%
02/18 $1.75B *FirstEnergy $300M 5Y +70, $600M 10Y +110, $850M 30Y +140
02/18 $1B *Commonwealth Edison, $350M 10Y +68, $650M 30Y +100
02/18 $1B *Republic Services $600M 10Y +78, 00M $30Y +108
02/18 $700M *National Retail $400M 10Y +98, $300M 30Y +120
02/18 $600M *Brookfield Finance 30Y +150
02/18 $500M *KKR Group Finance 30Y +165
-
$2B priced Friday, $37B/wk
02/14 $2B *Export Development Canada 3Y +5
-
$11.15B priced Thursday; just over $35B/wk
02/13 $9.25B *Carrier Global 6-tranche breakdown: $500M 3Y +50, $2B 5Y +80,
$1.25B 7Y +95, $2B 10Y +110, $1.5B 20Y +130, $2B 30Y +150
02/13 $750M *Bank of New Zealand 5Y +68
02/13 $750M *Carlisle 10Y +128
02/13 $400M *Amphenol WNG 5Y +65
Note on Carrier Global (5x oversubscribed!): jumbo issue not as large as
estimates ($15B) but still largest for year so far. Practical effect on market,
less than expected had specs scramble to cover shorts, adding to post 30Y
auction gap bid, while Tsy futures pared gains soon after. Also note, swap spds
narrowed across the curve on supply.
-
02/12 No new issuance Wednesday after near $24B total priced Mon-Tue
-
$11.675B priced Tuesday, near $24B/wk
02/11 $5B *Novartis Capital Corp $1B 5Y +37, $1.25B 7Y +50, $1.5B +10K +62,
$1.25B +30Y +80
02/11 $2.7B *HCA Inc. 10.5NCL 3.5% *Upsized from $1B
02/11 $1.25B *Post Holdings 10.25NC5 4.625%
02/11 $1.1B *DTE Electric $600M 10Y +68, $500M 30Y +90
02/11 $1B *Sysco WNG 10Y +85, 30Y +125
02/11 $300M *Oshkosh WNG 10Y +155
02/11 $325M *Duke Realty 30Y +112
-
$12.3B priced Monday
02/10 $5B *Bank of America $1.5B 6NC5 +65, $3.5B 11NC10 +95
02/10 $2.5B *Toyota Motor Cr $1.1B 1.5Y FRN L+12.5, $650M 5Y +45, $750M 10Y +65
02/10 $2.25B *Intel $750M 10Y +65, $500M 30Y +90, $1B 40Y +110
02/10 $750M *KDB 3Y FRN L+35, 5Y +45
02/10 $700M *AvalonBay 10Y +77
02/10 $600M *Valvoline 10NC5
02/10 $500M *Emirates NBD 5Y +125
-
No new issuance Friday, $33.57B/wk
-
$3.125B priced Thursday
02/06 $4B *Republic of Turkey $2B 5Y 4.45%, $2B 10Y 5.45%
02/06 $1.5B *ANZ New Zealand Int 3Y +48, 10Y +93
02/06 $925M *EBRD (Environmental Sustainability Bond) 5Y +7
02/06 $700M *Indian Railway Finance 30Y +160
-
$9.4B priced Wednesday, $26.45B/wk
02/05 $2B *Hyundai Capital America $1B 3Y +95, $500M each: 5Y +122.5, 7Y +147.5
02/05 $2B *Goldman Sachs 10Y +95
02/05 $1.5B *OKB (Oesterreichische Kontrollbank AG) 5Y +12
02/05 $1B *IBRD (World Bank) 2024 Tap SOFR+28
02/05 $1B *Nationwide Building Society 3Y +27
02/05 $500M *First Republic 4NC3 fix-FRN +48
02/05 $500M *Exp/Imp Bk of Korea (KEXIM) 5Y +47.5
02/05 $400M *Synovus Bank 3NC2 fix-FRN 85
02/05 $500M *Southwest Air WNG 10Y +103
-
$13.25B priced Tuesday; Large $6B Wells Fargo 2-part launched. Matches MS last
month for largest issuance of yr so far
02/04 $6B *Wells Fargo $3B each: 6NC5 +75, 11NC10 +98
02/04 $3B *EIB WNG 3Y +6
02/04 $1.25B *Santander UK PLC 3Y +28
02/04 $2.5B *Quebec 5Y +19
02/04 $500M *Essex Portfolio 12Y +110a
-
$4.8B priced Monday
02/03 $2.2B *Prologis LP $500M 7Y +70, $1B 10Y +80, $700M 30Y +105
02/03 $1B *Federation des Caisses Desjardins du Quebec (CCDJ) 5Y +73
02/03 $800M *KeyCorp +7Y +82
02/03 $500M *Discover Bank WNG 10Y +120
02/03 $300M *Citizens Financial 10Y +100
--MNI Chicago Bureau; tel: +1 312-431-0089; email: bill.sokolis@marketnews.com
[TOPICS: MTABLE]
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com