© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
STIR FUTURES

Another leg higher

USD

Broader base buying going through

GERMAN DATA

PMI misses too

NATURAL GAS

Germany Expected to Announce Gas Plan Phase 2

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Corporate Credit Risk: Improved as Stocks Power Higher

US
BulletMarketsFixed IncomeForeign Exchange

Corporate credit risk fell back to mid-March levels as equity indexes powered higher into midday.

  • Stocks extending session highs after a mildly weaker open Monday, focus on tech shares and micro bloggers. S&P eminis trading +25.5 (0.47%) at 4564.75, lead by Communication Services as Twitter (TWT) +9.95 (25.4%) at 49.25 following reports Elon Musk bought 9.2% outstanding shares.
  • Investment grade risk measured by Markit's CDXIG5 index currently -1.973 to 64.529 (mid-March lows); CDXHY5 high yield index mildly higher at 105.836 (+.390).
  • Outperforming credit sectors (tighter or least wide): Materials sector (-.39) with debt issued by multiple gold and rare earth miners outperforming. Communications tied with Health Care and consumer discretionary (-0.3).
  • Lagging sectors (wider or least narrow): Utilities (+0.6) lead by multiple East coast and southern state gas and electric utility providers in energy inflation remains high.
  • Financials, Sr (+0.4) w/Main St Capital Corp underperforming.
140 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Corporate credit risk fell back to mid-March levels as equity indexes powered higher into midday.

  • Stocks extending session highs after a mildly weaker open Monday, focus on tech shares and micro bloggers. S&P eminis trading +25.5 (0.47%) at 4564.75, lead by Communication Services as Twitter (TWT) +9.95 (25.4%) at 49.25 following reports Elon Musk bought 9.2% outstanding shares.
  • Investment grade risk measured by Markit's CDXIG5 index currently -1.973 to 64.529 (mid-March lows); CDXHY5 high yield index mildly higher at 105.836 (+.390).
  • Outperforming credit sectors (tighter or least wide): Materials sector (-.39) with debt issued by multiple gold and rare earth miners outperforming. Communications tied with Health Care and consumer discretionary (-0.3).
  • Lagging sectors (wider or least narrow): Utilities (+0.6) lead by multiple East coast and southern state gas and electric utility providers in energy inflation remains high.
  • Financials, Sr (+0.4) w/Main St Capital Corp underperforming.