MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Corporate Credit Risk: Slight Improvement From Mon's Wides

US

Corporate credit risk receding slightly Tuesday after breaking five consecutive session string of improved corporate credit risk Monday: investment grade risk measured by Markit's CDXIG5 index surged +7.6 to 71.832 yesterday after Fed Chair Powell comments on willingness to hike at least 25bp at every meeting to stem inflation.

CDXIG5 currently -1.67 to 70.41; CDXHY5 high yield index mildly higher at 105.599 (+.200).

  • Tsy sell-off accelerated this morning after StL Fed Pres Bullard comments on Bbg TV urged Fed to "move aggressively to curb inflation" while a combination of factors providing tailwind for stocks: broad based share buy backs, renewed support from China to support economy and markets, and peripherally, weaker crude: WTI -$2.47 (-2.2%) at $109.65, weighs on energy sector, while others gain as crude recedes.
  • Outperforming credit sectors (tighter or least wide) ironically includes Energy sector (-2.1) with gas and pipeline services debt risk narrowing. Health Care (-1.8) lead by hospitals and insurance providers; Consumer Discretionary (-1.6) as resorts and airline debt risk improves for second consecutive session.
  • Lagging sectors (wider or least narrow): Financials (Sr: -0.6; Sub: -1.1) and Materials (-1.0), BHP Billiton, Rio Tinto and Barrick debt underperorming.

BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.