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Corporate Credit Update: IG5 At Early June Levels

US

Investment-grade corporate credit risk continued to ease Monday, holding near early session lows after midday with stocks holding modest gains: SPX eminis currently trading +20.25 (0.52%) at 3895; DJIA +65.2 (0.21%) at 31440.61; Nasdaq +131.1 (1.1%) at 11613.47.

  • Investment grade risk measured by Markit's CDXIG5 index -1.766 to 88.764 (early June levels); CDXHY5 high yield index at 99.231 (+0.411).
  • Outperforming credit sectors (tighter or least wide): Material (-1.9) Consumer Staples and Consumer Discretionary both -1.8.
  • Lagging sectors (wider or least narrow): Senior Financials (-0.5), Utilities (-0.8) and subordinated Financials (-1.0%).

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