Spreads on bonds issued by oil companies widened sharply in active trading on Monday, as a drop of more than 22% in crude prices and the continued spread of coronavirus caused a crater in world markets. Exxon Mobil’s
According to MarketAxess, 3.095% of the bonds that matured in August 2049 were the most actively traded bonds. The notes were 84 basis points wider over the day with a yield spread of 220 basis points compared to comparable treasury bills. JPMorgan Chase & Co.
a major lender in the energy sector, saw its 4,000% ratings mature at Apri. of 2049 widen by 82 basis points for a difference of 357 basis points on Treasurys and rank second among the most active exchanges. Occidental Petroleum’s
3,500% of the notes which expire in August 2029 have discarded 460 basis points for a spread of 762 basis points on Treasurys. These notes were the third most active of the day.