U.S. STOCKS RECOVERED LOSSES WEDNESDAY after news broke that the White House plans to delay an auto tariffs decision by up to six months. The news was well received in the equities market, which has been turbulent for the better part of the last two weeks. The technology sector performed particularly well today as the NASDAQ rose 1.13%. 10-Year U.S. Treasury Yields fell 3.4 basis points. S&P +0.58%, Dow +0.45%, NASDAQ +1.13%.
|Key Gainers and Losers||Volume Leaders|
|JPMorgan Chase & Co. 2.55% 10/29/2020
Comcast Corp. 4.15% 10/15/2028
|Industry Returns Tracker|
|New Issues||New Issues [Continued]|
1. Waste Management Inc. (USD) 2.95% 6/15/2024 (05/14/2019):750MM Senior Unsecured Notes, Price at Issuance 99.994, Yielding 2.95%.
|Top Widening Credit Default Swaps (CDS)||Top Narrowing Credit Default Swaps (CDS)|
|Weatherford International LTD (5Y Sen USD MR14)
Hertz Corp. (5Y Sen USD XR14)
|SuperValu Inc. (5Y Sen USD XR14)
Atmos Energy Corp. (5Y Sen USD MR14)
Loans and Credit Market OverviewSYNDICATED LOANS HIGHLIGHTS:
Deals recently freed for secondary trading, notable secondary activity:
- Medallion Midland Acquisition, Eldorado Gold Corp., Oryx Midstream
- TED spread held below 14 bp (basis points), as of 05/15/19
- Net positive capital flows into high-yield ETFs & mutual funds
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