Free Trial

Late Corporate Credit Update, Risk Metric Extend Lows

US

Investment-grade corporate credit risk posted extended session lows late Monday even as stocks traded mixed on narrow range. Currently SPX eminis trade -2.5 (-0.06%) at 3887.25; DJIA -31.32 (-0.1%) at 30790.74; Nasdaq +5.3 (0%) at 11453.38.

  • After surging higher late last week, investment grade risk measured by Markit's CDXIG5 index is currently -1.444 at 87.721 vs. 91.088 early session high; CDXHY5 high yield index at 99.261 (+0.287).
  • Outperforming credit sectors (tighter or least wide): Health Care -1.6, Utilities -1.3, Consumer Staples and Sr Financials both -1.2.
  • Lagging sectors (wider or least narrow): Materials -0.1, Industrials -0.8 and Energy -0.9.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.