Midday Commentary: High-grade market tone improves, Agilent notes firm

By Aleesia Forni

Virginia Beach, Va., June 25 - The high-grade bond market's tone opened "a little better compared to [Monday]," one market source said at mid-morning.

The Markit CDX North American Investment Grade index was 4 basis points tighter at a spread of 94 bps on Tuesday.

In secondary market action, the trader quoted the recent deal from Agilent Technologies, Inc. 2 bps better at 193 bps bid, 189 bps offered.

The company priced the $600 million of 3.875% 10-year senior notes at a spread of Treasuries plus 175 bps on June 18.

The bioanalytic and electronic measurement technology company is based in Santa Clara, Calif.

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