Midday Commentary: Secondary trading muted ahead of earnings, Bank of America firms

By Aleesia Forni

Columbus, Ohio, Oct. 9 - Trading in the investment-grade secondary market saw a "pretty quiet start to the week," one trader said at midday.

"I imagine blackout periods ahead of earnings may keep new issues from heating up," the trader continued.

The trader quoted Bank of America Corp.'s $1.75 billion of 1.5% three-year notes at 112 basis points bid.

The notes priced on Thursday at a spread of 120 bps over Treasuries.

Bank of America is a Charlotte, N.C.-based financial services company.

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