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(U2) Gains Considered Corrective


(U2) Bearish Outlook


(U2) Trend Needle Still Points South

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PIPELINE: World Bank launches $8B 5Y; Still waiting on other potentially large
issues, possibly helping turn Tsy futures off midmorning highs.
Date $MM Issuer/Rating/Desc/Maturity/Yld; Priced *; Launch #
04/15 $8B #World Bank (IBRD) 5Y +24
04/15 $3B EIB WNG 5Y +27a
04/15 $Benchmark Kingdom of Saudi Arabia 5.5Y, 10.5Y, 40Y
04/15 $Benchmark Royal Bank of Canada 3Y +155a
04/15 $Benchmark JP Morgan 6NC5 +185a, 11NC10 +200a, 21NC20 +195a, 31NC30 +200a
04/15 $Benchmark LYB Int Finance 5Y +265a, 10Y +280a, 30Y +300a
MNI Chicago Bureau | +1 312-431-0089 |
MNI Chicago Bureau | +1 312-431-0089 |

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