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Corporate Credit Update


Off midmorning lows - Investment-grade corporate credit risk currently extending modest session highs with equities reversing early support to mildly weaker levels in the second half.

  • Investment grade risk measured by Markit's CDXIG5 index is currently +0.539 at 96.947; CDXHY5 high yield index at 97.810 (-.091).
  • Outperforming credit sectors (tighter or least wide): Communications (-2.3), Energy (-2.2) and subordinated Financials (-2.0)
  • Lagging sectors (wider or least narrow): Materials (-1.1), Sr Financials (-1.3) followed by Utilities (-1.4)

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