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Late Corporate Credit Update: Testing 2Y Highs

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BulletMarketsFixed IncomeForeign Exchange

Investment-grade corporate credit risk holding near highest levels since June 2020 tapped early Monday.

  • Tailwind for IG credit risk as SPX eminis fall 2.5% to 4177.0 new low for month.
  • Investment grade risk measured by Markit's CDXIG5 index currently +4.260 to 81.120 vs. Mon's 81.230 high; CDXHY5 high yield index at 102.386 (-.827).
  • Outperforming credit sectors (tighter or least wide): Consumer Staples (+0.6), Technology (0.7) and Health Care (+0.8)
  • Lagging sectors (wider or least narrow): Materials and Senior Financials both +1.8, Consumer Discretionary +1.3.
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Investment-grade corporate credit risk holding near highest levels since June 2020 tapped early Monday.

  • Tailwind for IG credit risk as SPX eminis fall 2.5% to 4177.0 new low for month.
  • Investment grade risk measured by Markit's CDXIG5 index currently +4.260 to 81.120 vs. Mon's 81.230 high; CDXHY5 high yield index at 102.386 (-.827).
  • Outperforming credit sectors (tighter or least wide): Consumer Staples (+0.6), Technology (0.7) and Health Care (+0.8)
  • Lagging sectors (wider or least narrow): Materials and Senior Financials both +1.8, Consumer Discretionary +1.3.