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Corporate Credit Update: Heating Bacj Up

US

Investment-grade corporate credit risk inching higher, near recent session highs as stock look to test midmorning lows again in second half trade: SPX eminis back to June 13 levels, ESU2 currently at 3899.75 (-16.50); DJIA -72.22 (-0.23%) at 31428.67; Nasdaq -78.2 points (-0.7%) at 11528.89.

  • Investment grade risk measured by Markit's CDXIG5 index at 95.256 (+1.107); CDXHY5 high yield index at 98.758 (-0.109).
  • Outperforming credit sectors (tighter or least wide): Health Care and Consumer Staples both +0.3 followed by Communications +0.4.
  • Lagging sectors (wider or least narrow): Energy (+1.1) followed by Utilities and Materials both +1.0

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