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Corporate Credit Update


Off the prior session month highs, investment-grade corporate credit risk marched directionally higher with Tsy yields Friday following a jump in 1Y inflation expectations (via U-Mich sentiment data)..

  • Investment grade risk measured by Markit's CDXIG5 index is currently +1.675 at 102.833 vs Thu's 109.171 session high; CDXHY5 high yield index at 96.550 (-.27).
  • Outperforming credit sectors (tighter or least wide): Materials (-0.6), Health Care (-0.3) and Communications (+0.1)
  • Lagging sectors (wider or least narrow): Sr Financials (+1.6), Subordinated Financials (+1.0) and Energy (+0.4).

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