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Corporate Credit Risk Update: Mildly Higher, Off Last Wk 2Y Highs

US
BulletMarketsFixed IncomeForeign Exchange

Investment-grade corporate credit risk starts off the new week mildly higher -- near last week's 2Y highs (90.438 on May 9), holding inside relatively narrow band while equity indexes scale back portion of Fri's gains (SPX emini futures currently -25.25 (-0.63%) at 3996).

  • Investment grade risk measured by Markit's CDXIG5 index at 85.738 (+0.348) vs. 85.883 low; CDXHY5 high yield index at 100.443 (-0.197).
  • Outperforming credit sectors (tighter or least wide): Financials Senior and subordinated (+1.1-1.2), Technology (+1.1).
  • Lagging sectors (wider or least narrow): Materials (+2.4), followed by Industrials and Consumer Staples both (+1.9).
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Investment-grade corporate credit risk starts off the new week mildly higher -- near last week's 2Y highs (90.438 on May 9), holding inside relatively narrow band while equity indexes scale back portion of Fri's gains (SPX emini futures currently -25.25 (-0.63%) at 3996).

  • Investment grade risk measured by Markit's CDXIG5 index at 85.738 (+0.348) vs. 85.883 low; CDXHY5 high yield index at 100.443 (-0.197).
  • Outperforming credit sectors (tighter or least wide): Financials Senior and subordinated (+1.1-1.2), Technology (+1.1).
  • Lagging sectors (wider or least narrow): Materials (+2.4), followed by Industrials and Consumer Staples both (+1.9).