Midday Commentary: Investment-grade bond market sees strong open; NiSource bonds firm

By Aleesia Forni

Virginia Beach, Va., April 10 - The investment-grade bond market opened Wednesday on a positive note, one market source said.

"[The market] is going strong so far today," the source said, noting that new issues continue to see strong demand in the secondary market.

In trading activity, the recent deal from NiSource Finance Corp. was quoted 5.5 basis points better, one trader said.

The 4.8% notes due 2044 were quoted at 182 bps bid, 177 bps offered at midday.

The company priced the upsized $750 million issue to yield Treasuries plus 187.5 bps on Wednesday.

The energy holding company is based in Merrillville, Ind.

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