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Fixed Income Daily Market Commentary

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This commentary, published by Janney Fixed Income Strategy & Research, covers daily topics as well as current activity in the fixed income market. 

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May 25, 2017

“The minutes showed that the Fed might be taking an unexpected direction with its balance sheet management, shrinking it more gradually than expected and capping the amount not reinvested as bonds mature starting this year.”

Fast FIX

  • Moody’s downgrade of China’s sovereign ratings, the May FOMC minutes, and April existing home sales data caused a volatile treasuries market yesterday

  • OPEC plus Russia may be agreeing to curtail production through March 2018

  • US corporate new issuance dropped off yesterday after heightened activity on Monday and Tuesday; S&P upgraded the ratings of steelmaker ArcelorMittal

  • Children’s Hospital of Philadelphia sold $181MM this week; S&P upgraded the ratings of Cleveland, OH to AA+ from AA

Click here to download the full report (PDF)