Morning Commentary: High-grade deal volume revs up; CBS, ConEd, Spirit, Westlake to price

By Cristal Cody

Tupelo, Miss., Nov. 13 – Pricing action is expected to be strong over Monday’s session with the rest of the week also forecasted to have heavy supply.

Early Monday, issuers including CBS Corp., Consolidated Edison Co. of New York, Inc., Florida Power & Light Co., DTE Energy Co., MB Financial Bank, NA, Westlake Chemical Corp., Spirit Airlines, Inc., Republic Services, Inc., Carlisle Cos. Inc., Ladenburg Thalmann Financial Services Inc. and Air Lease Corp. announced bond offerings.

About $25 billion to $30 billion of deal volume is expected over the week, according to a market source.

The three-month Libor yield was unchanged early Monday at 1.41%, a source said.

In the investment-grade secondary market, trading volume on Friday came to $12.46 billion, Trace reported.

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