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Corporate Credit Update: Inside Range

US

Investment-grade corporate credit risk inching higher, inside relatively narrow range with stocks trading softer: SPX emini futures, ESM2 currently trading 4114.5 (-6.50).

  • Investment grade risk measured by Markit's CDXIG5 index stands at 82.301 (+0.530) vs. 83.521H/81.658L; CDXHY5 high yield index at 100.739 (-0.198).
  • Outperforming credit sectors (tighter or least wide): Utilities and Energy both +0.07, followed by Industrials and Technology +0.8.
  • Lagging sectors (wider or least narrow): Materials (+2.0), followed by Financials (subordinated) and communications, both +1.6.

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