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10/19/16
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10/19/16
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U.S. corporate bond update: Saudi is expected to price $17.5 B in bonds

U.S. corporate bond update: Saudi is expected to price $17.5 B in bonds today, and that could leave nominal Treasuries underwater until hedges are unwound. This is a 3-part deal including 5-, 10-, and 30-year maturities. Mondelez has a 4-tranche deal, including 3-year fixed/FRN and a 5-year fixed/FRN. Wells Fargo has a benchmark 10-year deal, which it postponed from yesterday. Kommunalbanken launched a $500 M 4-year note. AFDB has a benchmark 2-year global on tap. Credit spreads remain little changed at their narrows of the year.

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