Investing.com -- An Oracle (NYSE:ORCL) bond traded tighter than usual compared to its technology sector peers on Tuesday, while bonds from DXC Technology and Concentrix showed wider spreads, according to a Bloomberg analysis of U.S. dollar-denominated investment grade debt.
Oracle’s 4.5% bond due May 6, 2028 yielded 64.7 basis points above Treasuries, according to BVAL data. The spread difference versus the average of industry peers was 4.05 standard deviations tighter than the three-month average.
DXC Technology’s 2.375% bond maturing Sept. 15, 2028 yielded 149.3 basis points over Treasuries. This spread was 2.68 standard deviations wider than the three-month average when compared to peers.
Among other bonds that tightened relative to peers, Oracle’s 6.15% bond due Nov. 9, 2029 showed a spread of 94.8 basis points, which was 3.4 standard deviations tighter on a three-month basis. The bond traded at $103.121 with volume of $6.99 million.
Nvidia’s 1.55% bond maturing June 15, 2028 yielded 4.3 basis points above Treasuries, 2.8 standard deviations tighter than its three-month average. Dell Technologies’ 7.1% bond due April 15, 2028 traded at a 34.5 basis point spread, 2.7 standard deviations tighter.
Salesforce’s 5.2% bond maturing March 15, 2033 saw the highest trading volume among tightening bonds at $16.18 million, with a spread of 89 basis points.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.