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Late Corporate Credit Risk Update: Sideways Week Opener

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Investment-grade corporate credit risk holding steady late Monday, off last week's 2Y highs, holding inside relatively narrow band while equity indexes scale back portion of Fri's gains (SPX emini futures currently +8.5 (+0.22%) at 4028.25).

  • Investment grade risk measured by Markit's CDXIG5 index at 85.390 (+0.000) vs. 90.438 high on May 9; CDXHY5 high yield index at 100.595 (-0.046).
  • Outperforming credit sectors (tighter or least wide): Financials Senior and subordinated (+1.3), Technology (+1.2).
  • Lagging sectors (wider or least narrow): Materials (+2.3), followed by Industrials and Consumer Staples both (+1.9).
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Investment-grade corporate credit risk holding steady late Monday, off last week's 2Y highs, holding inside relatively narrow band while equity indexes scale back portion of Fri's gains (SPX emini futures currently +8.5 (+0.22%) at 4028.25).

  • Investment grade risk measured by Markit's CDXIG5 index at 85.390 (+0.000) vs. 90.438 high on May 9; CDXHY5 high yield index at 100.595 (-0.046).
  • Outperforming credit sectors (tighter or least wide): Financials Senior and subordinated (+1.3), Technology (+1.2).
  • Lagging sectors (wider or least narrow): Materials (+2.3), followed by Industrials and Consumer Staples both (+1.9).