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Corporate Credit Update: Near Month Highs

US

Investment-grade corporate credit risk holding near highs for the month - inside relatively narrow session range as stocks trade mildly mixed: SPX eminis trade -3.75 (-0.09%) at 4137.75; DJIA -117.13 (-0.35%) at 32944.63; Nasdaq +21.7 (0.2%) at 12401.53.

  • Investment grade risk measured by Markit's CDXIG5 index -0.449 to 83.993; CDXHY5 high yield index at 100.507 (+0.200).
  • Outperforming credit sectors (tighter or least wide): Energy (-1.9), followed by Consumer Staples and Communications both -1.6, Industrials and Technology both -1.5.
  • Lagging sectors (wider or least narrow): Financials (subordinated and Senior) both -0.5, Consumer Discretionary and Materials (-0.9) followed by Health Care and Utilities (-1.4).
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