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Corporate Credit Update: Heating Up as Stocks Sag

US

Investment-grade corporate credit risk climbed Friday as autos and high-tech sectors weighed on major indexes, SPX emini futures, ESM2 currently trading 4104.0 (-69.75) vs. 4072.25 low on Tuesday.

  • Back near early Thursday highs, investment grade risk measured by Markit's CDXIG5 index gained 1.751 to 81.384 vs. 82.080 high on Thu; CDXHY5 high yield index at 101.131 (-0.522).
  • Outperforming credit sectors (tighter or least wide): Financials (subordinated) (+0.3) followed by Materials (+0.5) and Energy (+0.7)
  • Lagging sectors (wider or least narrow): Communications (+1.7), Consumer Staples and Health Care both +1.5.
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Investment-grade corporate credit risk climbed Friday as autos and high-tech sectors weighed on major indexes, SPX emini futures, ESM2 currently trading 4104.0 (-69.75) vs. 4072.25 low on Tuesday.

  • Back near early Thursday highs, investment grade risk measured by Markit's CDXIG5 index gained 1.751 to 81.384 vs. 82.080 high on Thu; CDXHY5 high yield index at 101.131 (-0.522).
  • Outperforming credit sectors (tighter or least wide): Financials (subordinated) (+0.3) followed by Materials (+0.5) and Energy (+0.7)
  • Lagging sectors (wider or least narrow): Communications (+1.7), Consumer Staples and Health Care both +1.5.