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Corporate Credit Risk Update: New Lows for Week

US

Investment-grade corporate credit risk near lows for the week as equities stage a strong corrective rally (SPX emini futures still lower for the week at 4029.0 +101.75).

  • Investment grade risk measured by Markit's CDXIG5 index holding inside session range at 85.149 (-2.151) vs. 84.546 low; CDXHY5 high yield index at 100.759 (+0.497).
  • Outperforming credit sectors (tighter or least wide): Financials subordinated (-0.1), Materials (+0.0) and Consumer discretionary (+0.1).
  • Lagging sectors (wider or least narrow): Energy (+0.8), Communications and Industrials both (+0.6).

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