Talking Tuesdays with Stephen L. Haas | August 1, 2023
Good morning, I am Stephen Haas, Head of credit trading at AmeriVet Securities, Welcome to Talking Tuesdays.
The New Issue calendar fell short of estimates and came in at $14.65 billion. July volume now stands at $68 billion on estimates of $75 billion for the month. Financial spreads were 2-to-10 basis points tighter on heavy secondary volume and we saw $3.2 billion of net client selling on the week.
Estimates are calling for $20 billion following last weeks Fed rate hike and earnings season that is in full swing as company’s look to issue before the August summer slowdown as spreads near the tightest levels of the year.
We will take a break from our weekly session the rest of August and resume after Labor Day, I hope everyone has a great rest of the summer.
I am Stephen Haas, Thank you for Listening to Talking Tuesday’s.