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Late Corporate Credit Risk Roundup, Off Wides on Late Stock Bounce

US

Corporate credit scaled back from wider risk levels in late trade, keying in on rebound in equities (SPX emini -24.00 points (-0.56%) at 4244.00) as Brent crude extended session lows

  • Markit's CDXIG5 high yield index see-saw near session midrange at 73.19 (+1.40) -- well off late morning high of 75.14, still a gain of 11.5 over the last month.
  • Lagging sectors (most wide):
  • Financials, both Subordinated and Senior (+4.5-4.4bp) took lead from Energy (+4.3bp) and Communications Sector (4.1)
  • Outperforming sectors (least wide) included: Materials (+2.1), Consumer Discretionary (+2.8) and Health Care (+2.8)
  • Markit's CDXHY5 high yield index, drifted near middle of session range at 104.471 (-.386).

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