FX Action: USD-JPY has come off session highs FX Action: USD-JPY has come off session highs, easing to near 102.25 and responding to slightly lower Treasury yields, and some noted fund selling over the 102.50 mark. Support remains in place at 102.10-00, with talk of Japanese backed bids at the figure now heard.
U.S. corporate bond update: issuance remains apace U.S. corporate bond update: issuance remains apace after a strong start to the week ($20 B yesterday and $5 B Monday). OKB got the ball rolling with a $1.25 B 5-year. McKesson Corp has a 5-trancher with benchmark sized 18-month FRN, a 3-, 5-, 10- and 30- year deal. HSCB is pricing benchmark 10- and 30-year paper. PPL Capital Funding has a 10- and 30-year offering too. Xilinx has benchmark 5- and 7-year notes primed. Texas Instruments is selling $500 M in 3- and 7-year notes. AT&T is offering benchmark 5-year notes.