Midday Commentary: Investment-grade bond spreads 'leaking a bit wider' from session open

By Aleesia Forni

Columbus, Ohio, Oct. 24 - Investment-grade bond spreads widened at midday, one trader said.

The trader saw spreads "leaking a bit wider" from levels seen earlier that morning.

In recent deals, Block Financial LLC's $500 million offering of 5.5% 10-year senior notes, which priced on Monday, was quoted at 375 basis points offered early in the day.

The company priced the notes at a spread of 375 bps over Treasuries.

Meanwhile, Monday's new issue from New York Life Global Funding was seen at 50 bps offered.

The company priced the $300 million offering of 1.3% five-year notes with a spread of 55 bps over Treasuries.

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