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Corporate Credit Update: Holding Steady

US

Investment-grade corporate credit risk currently running mildly lower with stocks trading marginally mixed: SPX eminis currently trading -37.5 (-0.96%) at 3863.5; DJIA -103.05 (-0.33%) at 31234.1; Nasdaq -222.8 (-1.9%) at 11410.74.

  • Investment grade risk measured by Markit's CDXIG5 index slips -0.609 to 91.619; CDXHY5 high yield index at 98.782 (-0.001).
  • Outperforming credit sectors (tighter or least wide): Health Care (+0.7) followed by Consumer Discretionary, Consumer Staples and Industrials all +0.8.
  • Lagging sectors (wider or least narrow): Financials subordinated (+2.0), Energy and Materials (+1.9) and Sr Financials (+1.4).

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