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Corporate Credit Update, Bond Risk Back to Midweek Lvls

US

Investment-grade corporate credit risk running higher again, back near mid-range for the week as rates scaled back from Wed's bullish reaction to BoE long end Gilt program.

  • Investment grade risk measured by Markit's CDXIG5 index is currently +3.881 at 109.995 (compares to 113.718 early Wed high); CDXHY5 high yield index at 95.572 (-.730).
  • Outperforming credit sectors (tighter or least wide): Sr Financials +5.1, Industrials +5.8 and Materials both +5.8.
  • Lagging sectors (wider or least narrow): Communications +7.2, Energy +7.1 and Technology +6.5.
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Investment-grade corporate credit risk running higher again, back near mid-range for the week as rates scaled back from Wed's bullish reaction to BoE long end Gilt program.

  • Investment grade risk measured by Markit's CDXIG5 index is currently +3.881 at 109.995 (compares to 113.718 early Wed high); CDXHY5 high yield index at 95.572 (-.730).
  • Outperforming credit sectors (tighter or least wide): Sr Financials +5.1, Industrials +5.8 and Materials both +5.8.
  • Lagging sectors (wider or least narrow): Communications +7.2, Energy +7.1 and Technology +6.5.