JPMorgan Chase

Major banks revamped their forecasts for US monetary policy Friday after data showed the US unemployment rate rose again in July, calling for earlier, bigger or more interest-rate cuts.

Yields on the certificates will range from 5.77% on the A1 notes through 6.17% on the A3 tranche. Otherwise, the M1, B1A and B1B notes are to see yields of about 6.42%, 7.32% and 8.17%, respectively.

Yields are expected to range from 5.44% on the P-1 (Moody's) and A-1+ (S&P Global Ratings) notes to 5.74% on the notes rated Baa1 (Moody's) and A+ (S&P).

According to the latest available database details, yields range from 6% on the class A4, AAA certificates to 5.9% on the class A8 certificates, also AAA.

The energy company has asked banks to arrange calls with investors on Monday to discuss the offering. That makes it a candidate to sell debt as soon as Tuesday.

The longest portion of the offering, an 11-year security, may yield 1.35 percentage point above Treasuries. The deal comes after the bank reported record profit as investment bankers and equities traders smashed expectations.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

The trust's sixth issue of the year is backed by higher-income borrowers.

The move was led by the two-year yield, which at one point fell nearly 8 basis points below 4.69% — short of last week's low 4.65%.

Some buyers in the JPMorgan deal — and in multiple other SRT trades — borrowed money from other banks to help finance their stakes and inflate returns, people familiar with the matter say.