Midday Commentary: High-grade bond market activity muted; Allstate's new notes widen

By Aleesia Forni

Virginia Beach, Va., June 6 - The high-grade bond market saw another muted session early Thursday, as Allstate Corp.'s new issue traded slightly wider at midday, one trader said.

The $500 million tranche of 3.15% 10-year notes traded 3 basis points wider compared to levels seen late Wednesday at 103 bps bid, 99 bps offered.

The notes priced at a spread of Treasuries plus 102 bps on Tuesday.

Meanwhile, the $500 million tranche of 4.5% 30-year bonds was quoted 3 bps wider at 124 bps bid, 120 bps offered.

The bonds were sold at Treasuries plus 122 bps.

The holding company for insurance subsidiaries is based in Northbrook, Ill.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.