Midday Commentary: Bonds 'very weak' to start session; Equity One notes tighten

By Aleesia Forni

Columbus, Ohio, Oct. 23 - Investment-grade bonds were "very weak in general" early in the session, one trader said.

Bond spreads in the telecommunications and technology sector were "anywhere from 5 [basis points to] 10 bps wider," the source added.

The trader saw particular underperformance in bonds from Hewlett-Packard Co. and Dell Inc.

In recent deal news, Equity One Inc.'s $300 million of 3.75% 10-year notes were quoted 3 bps tighter at 197 bps bid, 192 bps offered.

The notes sold at a spread of Treasuries plus 200 bps on Monday.

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