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Corporate Credit Update: Inside Range

US

Inside session range, investment-grade corporate credit risk held mildly lower levels as stocks wavered near steady in the second half: SPX eminis trade +3.25 (0.08%) at 4280; DJIA -90.75 (-0.27%) at 33889.61; Nasdaq +31.6 (0.2%) at 12969.99.

  • Investment grade risk measured by Markit's CDXIG5 index -0.625 to 77.544; CDXHY5 high yield index at 101.957 (+0.020).
  • Outperforming credit sectors (tighter or least wide): Energy (-0.9), Industrials (-0.4) and Utilities (-0.3)
  • Lagging sectors (wider or least narrow): Materials (+0.4), subordinated Financials and Health Care (+0.2), Communications and Consumer Staples (+0.1)

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