MARKET TALK: BP Bond Yields Settle On Escrow Announcement

16th Jun 2010 18:49

1:49 (Dow Jones) BP bond yields are gyrating along with equities and CDS levels. Yields have settled down on news that the oil giant will put $20B in escrow for future oil-spill claims. Yields for BP's most volatile issue, BP's 1.55% of 2011, had been quoted as high as 13.307%, but had fallen to 9.603%. BP's short-term bonds are the most active issues in the market today. Yields on BP's 5.250% of 2013 are up 30BP to yield of 8.636%, while BP's 3.625% of 2014 is up 33BP to yield 8.385%. In New York, BP ADS down 0.6% at $21.23. ([email protected]) Call us at (212) 416-2181 or email [email protected] Visit the Market Talk blog at http://www.djnmarkettalk.com (END) Dow Jones Newswires June 16, 2010 13:49 ET (17:49 GMT)