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Corporate Credit Update

US

Investment grade credit spds recede after making new 18-month highs late Tuesday (IG5 70.604), cautious optimism w/ equities firmer, SPX eminis off overnight high after cash open, however.

  • SPX eminis trading +28.25 points (0.66%) at 4329.25; Dow Industrials +173 points (0.51%) at 33779.07; NASDAQ +112.6 points (0.8%) at 13495.96.
  • Investment grade credit risk bounced off early session lows, near top of range
    • IG corporate credit risk measured by Markit's CDX IG5 index currently 67.998 (-1.247), 68.807 H/ 67.851 L
    • High-yld index, CDXHY5, currently 105.419 (+.244), 105.454 H/ 105.248 L

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