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Corporate Credit, Continued Improvement

US

Investment grade credit spds continues to move off early Thursday's 18-month highs (IG5 74.960), as geopolitical risk tied to Russia/Ukraine tension ebbs ahead the weekend. Debate over sanctions (severity, quantity, target), negotiations (Ukraine rejects talks in Minsk) and troop movements (U.S. defense official says amphibious assault underway) continues.

  • SPX eminis trading +45 points (1.05%) at 4328.75; Dow Industrials +387.6 points (1.17%) at 33607.09; NASDAQ +64.2 points (0.5%) at 13536.33.
  • Investment grade credit risk near middle of range
    • IG corporate credit risk measured by Markit's CDX IG5 index currently 66.744 (-1.736), 68.258 H / 65.531 L
    • High-yld index, CDXHY5, currently 105.868 (+.466), 106.033 H/ 105.409 L

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