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Corporate Credit Update


Off opening high of 63.27, IG corporate credit risk measured by Markit's CDX IG5 index bumping around session lows, currently 60.723 (-.615) in-line with stocks recovering some ground after last week's rout. SPX emini currently +57.0 at 4480.25.

  • Risk appetite increases on combination of cooling geopolitical tension around Russia/Ukraine, and Atlanta Fed Bostic sounding less hawkish at Yahoo Finance interview than Saturday's Financial Times interview that weighed heavily on short end rates in morning trade (see 1349ET bullet).
  • High-yield index, CDXHY5, currently at 106.753 (+.043) vs. 106.35 lows on the open.

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