Free Trial

Corporate Credit Update

US
  • Midday reversal in stocks (ESH2 4306.5 session low vs. 4419.0 midmorning high), IG corporate credit risk measured by Markit's CDX IG5 index climbs to session high of 62.493 recently, highest since late Oct 2020 (but no where near March 2020 pandemic highs above 158.0).
  • Negative correlation to stocks continues, IG5 slips to 61.623 as equities move off post-7Y auction lows to 4314.0 at the moment. FI and equity desks watching the 7s10s curve closely for inversion (2.374 at the moment from Wed's 5.65 high) some see as a sell-trigger for stocks.
  • High-yield index, CDXHY5, currently at 106.505 (-.396) vs. 107.147 high.

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.