Midday Commentary: Secondary demand remains strong; Newcrest bonds unchanged

By Aleesia Forni

Columbus, Ohio, Sept. 26 - Though activity in the investment-grade primary has slowed by mid-week, demand in the secondary bond market is still strong.

"[Investors] still want in," a trader said early in the session.

In the secondary market, Newcrest Finance Pty. Ltd.'s $250 million of reopened 5.75% bonds due 2041 traded flat for the second consecutive session at 280 basis points bid, 273 bps offered.

The notes priced at 280 bps over Treasuries on Monday.

The unit of Newcrest Mining Ltd., which is in the business of exploration and the sale of gold, copper and silver, is based in Melbourne, Australia.

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