Looming over the market are the pending TARP II proposal (Geithner speaks early next week) and the recent grim bank lending report where 2/3rds of the officers polled allowed how they had tightened standards.
I wouldn't be surprised if this story about Iran launching a satellite gathers some momentum and pushes the Vix a bit higher today (for 4th straight day).
New deals from Wellpoint and Verizon Wireless have performed well while early indications for the pending Novartis deal seem to be shaping up nicely. This is obviously an encouraging sign especially coming after a very healthy issuance month in January.
BBB rated bonds have outperformed single A rated bonds in this recent rally by ~15bps. This is a good sign as it shows an increasing comfort with holding or taking 'risk'.
The cheapest sectors (i.e. widest spreads) are REITs, financials and basic materials.
The richest sectors (i.e. tightest spreads) are telecom, technology, and industrials.
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