Morning Commentary: Convertibles secondary market quiet; DexCom notes active early

By Abigail W. Adams

Portland, Me., Dec. 23 – The convertibles secondary space saw another quiet start to the day as accounts continue to wind down activity with the end of the year approaching.

There was $73 million on the tape about one hour into the session with no name seeing more than $5 million trading, a source said.

DexCom Inc.’s 0.25% convertible notes due 2025 saw renewed attention on Wednesday with the notes briefly popping above par as stock spiked shortly after the opening bell.

However, the notes quickly dropped back below par and were seen changing hands at 99.5 about one hour into the session.

There was $4 million in reported volume.

DexCom’s stock traded as high as $364.99 before coming in to trade at $362.79, an increase of 2.42%, shortly before 11 a.m. ET.

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