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Corporate Credit Update

US

Investment grade credit spds running tighter at the moment, near recent highs even as stocks trade near highs, SPX eminis +68.5 at 4462.50.

  • Investment grade credit risk gapped higher late Monday, making new February high of 70.109 as Russia/Ukraine invasion chatter peaked. Improved risk metric de-escalation hopes this morning.
    • IG corporate credit risk measured by Markit's CDX IG5 index currently 65.968 (-1.567), 66.175 H/ 65.101 L
    • High-yield index, CDXHY5, currently 105.708 (+.319), 105.967 H/ 105.59 L

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