Midday Commentary: Secondary market sees 'very light' flows; Anglo American notes firm

By Aleesia Forni

Columbus, Ohio, Sept. 21 - The secondary investment-grade market saw "very light" flows early during Friday's session, one trader said of the day's tone.

Meanwhile, Thursday's two-part deal from Anglo American Capital plc tightened in trading.

The five-year notes tightened 2 basis points from late levels on Thursday to 183 bps bid, 179 bps offered.

The notes sold at a spread of 195 bps over Treasuries.

Anglo American's tranche of 10-year notes also tightened further from the previous session, seeing 223 bps bid, 229 bps offered at midday.

The notes were quoted at 237 bps bid on Thursday after pricing at a spread of Treasuries plus 245 bps.

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