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  • Syndicated Loan Market Commentary 08/31/2010 0 comments
    Aug 31, 2010 6:10 PM
    Overnight the equity markets were lower and futures pointed to a weaker open in anticipation of poor economic data. The Chicago PMI pointed to slower growth in the heartland with the number dropping to 56.7 down from 62.3 in July. But that was overshadowed by rising home prices and higher than anticipated consumer confidence. The early gains were later pared after the Fed minutes failed to show that they will were planning to expand their balance sheet to make way for QE II. The fact that the Fed decided to maintain there current balance sheet disappointed many investors who anticipated that they would increase their purchases in September. The market got a brief pop before the bell and the Dow ended just above the 10,000 market at 10,014.72 (+0.05%). The S&P 500 finished at 1,052.30 (0.04%).
    The story remains the same for the loan market; light volumes and situational trading. Dollar General, Visteon and Tribune were all active today. Overall, the market remains well bid but with many players out of the office enjoying the last days of summer, it makes it hard to get stuff done. I would expect to see this continue for the rest of the week. But, September is going to be a big month so, get ready. Have a great night.
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