U.S. corporate bond update: expectations for a heavy calendar this week
U.S. corporate bond update: expectations for a heavy calendar this week may put a floor under Treasury yields (EGBs were weaker on Friday amid hedging for a hefty slate this week). Many financials will be out of their blackout periods and are expected to pace issuance. Speaking of, JPM plans a 21benchmark 21nc20 fixed/FRN and a 31nc30fixed/FRN. Wells Fargo has a benchmark 5-year. Citi announced a benchmark 6nc5 fixed/FRN and an 11nc10 fixed/FRN. Jefferies Finance is looking to sell a $400 M 7nc3. Also, American Honda Finance is selling a benchmark 18-mon FRN and also has a 3-year fixed/FRN. Aercap Ireland announce a benchmark 10-year. Capital Kroger is on tap with a 5-, 10- and 30-year offering.