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Corporate Credit Update

US

Investment-grade corporate credit risk currently running near session lows in late trade - after gapping higher with Tsy yields following this morning's higher than expected CPI inflation data (8.2%, core 6.6%).

  • Investment grade risk measured by Markit's CDXIG5 index is currently -1.570 at 100.895 vs 109.151 session high; CDXHY5 high yield index at 96.779 (+.336).
  • Outperforming credit sectors (tighter or least wide): Technology (-1.0), Energy (-0.8) and Health Care (-0.8).
  • Lagging sectors (wider or least narrow): Subordinated Financials (+2.5), Materials (+1.2) and Utilities (+0.5).

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