Midday Commentary: Spreads unchanged to tighter, John Deere notes widen in trading

By Aleesia Forni

Columbus, Ohio, Oct. 15 - Investment-grade bond spreads were unchanged to slightly better on Monday, a trader said at midday.

Trading volume was "very light," the trader said, which is "typical of Mondays lately."

The secondary market saw Nstar Electric Co.'s $400 million of 2.375% notes trade at 62 basis points bid, 57 bps offered early in the session.

The notes sold at a spread of 70 bps over Treasuries on Tuesday.

In other trading, John Deere Capital Corp.'s notes widened 4 bps from the previous week's levels.

The trader saw the notes at 64 bps bid, 61 bps offered. The notes were quoted at 60 bps bid on Wednesday, following Tuesday's pricing with a spread of 65 bps over Treasuries.

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