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Corporate Credit Update

US

Investment-grade corporate credit risk fell sharply Thursday, current session lows put levels back near mid-September levels as key CPI inflation measure comes out lower than expected (0.4% MoM vs. 0.6% est).

  • Investment grade risk measured by Markit's CDXIG5 index is currently -8.035 at 84.201 vs. 92.625 high on the open; CDXHY5 high yield index 100.325 (+1.872).
  • Outperforming credit sectors (tighter or least wide): Communications (-8.6), Energy (-8.4) and Technology (-8.2)
  • Lagging sectors (wider or least narrow): Consumer Discretionary (-5.85) ,subordinated Financials (-6.1), Sr Financials (6.4).

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