Midday Commentary: Hewlett-Packard bonds actively trading; People's United notes firm

By Aleesia Forni

Columbus, Ohio, Dec. 4 - The secondary market saw Hewlett-Packard Co.'s notes continue to be "very active" in trading on Tuesday, one trader said.

Spreads were "another 5 bps better" at midday, with the Palo Alto, Calif., computer, printing and imaging company's 3.65% notes due 2022 trading at 320 bps bid, 310 bps offered.

Still, the trader added that it had "been a quiet start to the week" overall in the secondary.

People's United Financial, Inc.'s new bonds were trading 11 bps better at 196 bps bid, 191 bps offered.

The company was in the market Monday with an upsized $500 million sale of 3.65% 10-year senior notes that priced at Treasuries plus 207 bps.

The bank and financial services company is based in Bridgeport, Conn.

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