Midday Commentary: High-grade secondary market sees Hartford Financial notes trading better

By Aleesia Forni

Virginia Beach, Va., April 16 - The investment-grade secondary market saw Hartford Financial Services Group Inc.'s recent note issuance trading tighter on Tuesday, a trader said early during the session.

The $300 million of 4.3% senior notes due 2043 were quoted 2 basis points better at 143 bps bid, 140 bps offered.

Hartford sold the notes at a spread of Treasuries plus 145 bps on Monday.

Based in Hartford, Conn., the Hartford Financial Services Group is a financial services holding company and parent company for the Hartford Insurance Co.

Meanwhile, the Markit CDX Series North American Investment Grade index was 2 bps tighter at a spread of 83 bps.

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