Midday Commentary: New issues meet strong demand, Goldman Sachs firm in secondary

By Aleesia Forni

Virginia Beach, Va., July 17 - Recent deals pricing in the high-grade bond market, including Tuesday's new issue from Goldman Sachs Group Inc., have been met with "strong demand", one trader said at mid-morning on Wednesday.

The Markit CDX North American Investment Grade index was unchanged at a spread of 78 bps early during the session.

"Positive tone to the market so far today," a trader at another desk noted.

The source quoted Goldman Sachs' new notes 8 basis points better at 147 bps bid, 145 bps offered.

Goldman Sachs sold the $2.5 billion senior unsecured notes due 2018 at a spread of 155 bps over Treasuries on Tuesday.

The investment bank is based in New York.

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