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Corporate Credit Update: Reversing Tue's Gains

US

Still off Mon's two month lows, Investment-grade corporate credit risk inching lower ahead midday as stocks continue bull cycle. Currently, SPX eminis trade SPX eminis trade +49.75 (1.11%) at 4144.25; DJIA +306.97 (0.95%) at 32702.12; Nasdaq +232 (1.9%) at 12580.32.

  • Investment grade risk measured by Markit's CDXIG5 index -2.337 to 82.278; CDXHY5 high yield index at 100.909 (+0.469).
  • Outperforming credit sectors (tighter or least wide): Consumer Staples (-2.6)followed by Utilities and Communications avg around -2.3.
  • Lagging sectors (wider or least narrow): Materials, Senior Financials and Health Care avg -1.6

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