Market reacts to employment data; Albania sells bonds; Tanner sets talk; Future Land up

By Christine Van Dusen

Atlanta, Nov. 6 – Emerging markets assets were stable in trading on Friday morning as investors awaited a pivotal U.S. employment report, which later in the day revealed a greater-than-expected increase in new jobs and a slightly lower unemployment rate for October – news that could increase the likelihood of rate hikes in December.

Short-term Treasury yields spiked on the news, a trader said.

Meanwhile, Albania priced €450 million 5¾% notes due Nov. 12, 2022 at 99.472 to yield mid-swaps plus 559 basis points, according to an announcement from the sovereign.

The notes traded Friday 100¼, a trader said.

Angola’s new deal – $1.5 billion 9½% notes due 2025 that priced Wednesday at par to yield 9½%, or mid-swaps plus 738 bps – drew a final order book of $7 billion, a market source said.

The notes were spotted in the secondary market near 101½ bid.

In other trading, prices for Peru’s bonds sat close to intraday lows for during the afternoon, a New York-based trader said.

And Chile-based financial services company Tanner Finanzas Corporativas set talk in the 5½% area for a five-year issue of $300 million notes, a market source said.

Also on Friday, China-based Future Land Development Holdings Ltd.’s new $250 million of 6¼% notes due 2017 that priced Thursday at 99.079 to yield 6¾% traded at about 99.625, a market source said.

© 2015 Prospect News.
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