Midday Commentary: Activity 'winding down' ahead of weekend; Entergy Arkansas notes firm

By Aleesia Forni

Virginia Beach, Va., May 23 - Entergy Arkansas, Inc.'s recently issued notes traded tighter on Thursday as players anticipate the upcoming extended weekend.

"We're definitely winding down," one trader said early during the session.

The bond and stock markets will be closed in the United States Monday for Memorial Day.

Entergy Arkansas tapped the market for $250 million of 3.05% 10-year first mortgage bonds on Wednesday, and the trader quoted the notes 2 basis points better.

The notes were seen at 97 bps bid, 94 bps offered following Wednesday's sale at a spread of Treasuries plus 105 bps.

The utility company is based in Little Rock, Ark.

Meanwhile, the Markit CDX Series 20 North American Investment Grade index was 1 bp wider at a spread of 73 bps at midday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.