Morning Commentary: High-grade bonds modestly better; Anheuser-Busch notes improve

By Cristal Cody

Tupelo, Miss., Jan. 28 – High-grade bonds traded modestly better over the morning on Thursday.

Anheuser-Busch InBev Finance Inc.’s senior notes (A2/A-) traded about 1 basis point to 4 bps tighter in the secondary market.

The three-month Libor yield was stable at 62 bps.

The daily trading volume of bonds in the secondary market slipped to $17.9 billion of investment-grade bonds on Wednesday from $20.76 billion of bonds traded on Tuesday, according to Trace.

Anheuser-Busch firms

Anheuser-Busch’s 3.65% notes due 2026 traded about 1 bp better at 161 bps offered, a market source said.

The company sold $11 billion of the 10-year notes on Jan. 13 at Treasuries plus 160 bps.

The brewery is based in Leuven, Belgium.

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