October 02, 2024 12:06 GMT
CREDIT UPDATE: US Open
CREDIT UPDATE
US risk mute this morning (CDX +0.3/+1, S&P futures -0.2%) after yesterday's weaker closes; +1.6/+7, -0.9%. $IG primary continued pricing $9b and secondary spreads only move +1bp. $HY with only single digit widening (on a 6bp rates rally) continues to show some noteworthy resilience - ETF flows are still skewed to inflows for it.
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