G-255 USD New Issue Supply with Trade Indicators for July 22, 2025

General Electric Company (GE A3/A-)

$5Y fixed IPT 75 – model indicator attractive to 47/5Y

$10Y fixed IPT 90 – model indicator attractive to 60/10Y

Issuer is de-levering

When was the last time our trading model indicated a GE new issue? A: Well when you were high school… oh, never mind!

Wells Fargo & Co (WFC, A1/BBB+)

Tap of WFC 5.15 4/23/31 bond traded @ 71/5Y yesterday. Trading model says tap is attractive to 76/5Y

Issuer is re-levering.

Disclaimer - This report is not intended as, and does not constitute an offer, or a solicitation to buy or sell any securities or financial instruments. All data, levels, opinions, and representations herein are provided for informational purposes only and should not be relied upon for making investment decisions. Past performance is not indicative of future results. The authors of this report assume no liability for losses or damages arising from the use of this information. Investors should consult with a qualified financial advisor before making any investment decisions. The information in this report is based on sources believed to be reliable, but no guarantee is made as to its accuracy, completeness, or timeliness.