Free Trial

Corporate Credit Update, Off Highs

US

Investment grade credit spds marginally wider at the moment, near middle of the session range but looking to narrow further as equities reacting positively to latest Russia/Ukraine headlines of third round of peace talks with possibility of offensive cease fire. Russian officials expressed "support for humanitarian corridors for civilians" and agreeing on "possible ceasefire around those corridors".

  • DJIA trading over 90.0 higher, SPX eminis trading back above steady while Nasdaq OTC shares still weaker (-95.0).
  • IG corporate credit risk measured by Markit's CDX IG5 index off session highs of 71.337 to 70.114 at the moment.
  • Communications, Consumer Staples and Technology sectors outperforming, while Financials and Consumer Discretionary sectors contributing to wider credit spds. Banks trading weaker amid ongoing concerns over Russia risk exposure for GSIBs.
  • Markit's CDXHY5 high yield index, usually rises as credit risk improves is currently off lows of 105.147 at 105.24 (-.141)

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.