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Alphabet’s $25 billion bond sale lifts yields early

The move came alongside a brief rise in rates, with bonds also tracking slightly higher oil before the issuance, and trading steady afterward ahead of Friday’s jobs report.

Reported · Written up by our desk · Corporate Bonds

Alphabet’s announcement of a $25 billion bond offering around 7:45 a.m. ET triggered an immediate rise in yields, moving them higher by about 2 basis points, Mortgage News Daily reported.

Before the deal, bonds had already been weaker by nearly 2 bps as rates followed modestly higher oil prices.

After the opening move, the session was largely calm, with no meaningful economic data impact, according to the outlet.

Mortgage News Daily said both mortgage-backed securities and Treasuries were holding close to the prior session’s weakest levels, and framed the action as potentially a short pullback ahead of Friday’s jobs report.

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