Morning Commentary: Citigroup notes edge wider in early trade; Goldman paper improves

By Cristal Cody

Tupelo, Miss., June 8 – High-grade bonds opened the week mixed after credit spreads ended Friday weaker, according to market sources.

Citigroup Inc.’s 4.4% subordinated notes due 2025 that priced in the previous week edged 1 basis point wider.

Goldman Sachs Group Inc.’s 3.75% senior notes due 2025 traded 2 bps tighter.

The Markit CDX North American Investment Grade series 23 index ended Friday 1 bp weaker at a spread of 67 bps.

Citigroup softens

Citigroup’s 4.4% subordinated notes due 2025 eased 1 bp to 203 bps offered, according to a market source.

The company sold $2.5 billion of the notes at Treasuries plus 208 bps on Wednesday.

Citigroup is a New York City-based financial services company.

Goldman firms

Goldman Sachs’ 3.75% senior notes due 2025 firmed 2 bps to 148 bps offered in trading, a market source said.

Goldman Sachs sold $2.25 billion of the notes (Baa1/A-/A) on May 19 at Treasuries plus 150 bps.

The financial services company is based in New York City.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.