CHINA LET THE YUAN trade below the 7 Yuan to a dollar peg sending stocks and bonds lower. Markets cap the worst week in over 7 years. Similarly, the 10-Year Treasury note rose to 1.705%. S&P +1.88%, DOW+1.44%, NASDAQ +2.28%.
|Key Gainers and Losers||Volume Leaders|
|CVS Health Corp. 3.7% 3/9/2023
Kraft Heinz Co. 4.625% 1/30/2029
General Electric Co. FLT% PERP (1)
|Industry Returns Tracker|
|New Issues||New Issues [Continued]|
1. Barclays Bank PLC (USD) 2.261% 2/10/2020 (08/08/2019): 250MM Secured Notes, Price at Issuance 100, Yielding 2.26%.
2. Humana Inc. (USD) 3.95% 8/15/2049 (08/08/2019): 500MM Senior Unsecured Notes, Price at Issuance 99.634, Yielding 3.97%.
|Top Widening Credit Default Swaps (CDS)||Top Narrowing Credit Default Swaps (CDS)|
|Rite Aid Corp. (5Y Sen USD MR14)
Weatherford International LTD (5Y Sen USD MR14)
Hertz Corp. (5Y Sen USD CR14)
|Ghana, Republic of (5Y Sen USD CR14)
Road King Infrastructure LTD (5Y Sen USD CR14)
Loans and Credit Market Overview
Deals recently freed for secondary trading, notable secondary activity:
- Duerre Group, Albertsons LLC, Helical PLC, London Stock Exchange Group PLC
- TED spread held below 17 bp (basis points), as of 08/09/19
- Net positive capital flows into high-yield ETFs & mutual funds
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