Midday Commentary: JPMorgan Chase notes firm further in secondary market

By Aleesia Forni

Columbus, Ohio, Jan. 18 - JPMorgan Chase & Co.'s $6 billion of notes tightened further following Thursday's pricing, a market source said.

The $1.25 billion tranche of 1.8% five-year notes traded 2 basis points tighter at 99 bps bid, 94 bps offered.

The notes were sold at a spread of Treasuries plus 103 bps on Thursday.

The $2.75 billion of 3.2% 10-year notes firmed 3 bps to 124 bps bid, 119 bps offered.

JPMorgan sold the notes at Treasuries plus 133 bps.

The sale also included $2 billion of five-year floating-rate notes, which were sold at par to yield Libor plus 90 bps.

The financial services company is based in New York.

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