Midday Commentary: Spreads mostly flat; players 'easing back in' following holiday week

By Aleesia Forni

Columbus, Ohio, Nov. 26 - Spreads in the investment-grade secondary market were "mostly unchanged" on Monday, one trader said early in the session.

"Everyone [is] just easing back in after the holiday, I think," the trader added.

Last week's $350 million 4.875% 10-year deal from Avnet, Inc. was quoted 7 basis points tighter at 318 bps bid, 313 bps offered.

The company priced the notes on Nov. 20 to yield Treasuries plus 325 bps.

The industrial distributor is based in Phoenix.

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