Midday Commentary: JPMorgan's fixed-, floating-rate notes continue to firm in secondary

By Aleesia Forni

Columbus, Ohio, Oct. 16 - Monday's issuance from JPMorgan Chase & Co. saw further tightening by midday Tuesday, one trader said.

The three-year floating-rate notes were quoted at 63 basis points bid, 61 bps offered following Monday's pricing at Libor plus 66 bps.

The floating-rate notes were quoted at 72 bps offered. The tranche had traded at 76 bps bid, 74 bps offered late during Monday's session.

JPMorgan priced the $2.25 billion of 1.1% notes at a spread of Treasuries plus 77 bps.

The financial services company is based in New York City.

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