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Late Corporate Credit Risk Update: Near Late Session Lows

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BulletMarketsFixed IncomeForeign Exchange

Investment-grade corporate credit risk receding after climbing to new 2Y highs this morning, slight cooling as stock indexes inch off lows: SPX emini futures currently -6.5 (-0.17%) at 3915.5, Dow Industrials -123.92 (-0.39%) at 31368.01, Nasdaq +49.4 (0.4%) at 11467.82.

  • Investment grade risk measured by Markit's CDXIG5 index at 88.623 (-2.163) vs. vs. 93.659 high; CDXHY5 high yield index at 99.732 (+0.477).
  • Outperforming credit sectors (tighter or least wide): Communications (-0.1) followed by Energy (+0.0) and Health Care (+0.6)
  • Lagging sectors (wider or least narrow): Consumer Discretionary (+2.1) and subordinated Financials (+1.3).
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Investment-grade corporate credit risk receding after climbing to new 2Y highs this morning, slight cooling as stock indexes inch off lows: SPX emini futures currently -6.5 (-0.17%) at 3915.5, Dow Industrials -123.92 (-0.39%) at 31368.01, Nasdaq +49.4 (0.4%) at 11467.82.

  • Investment grade risk measured by Markit's CDXIG5 index at 88.623 (-2.163) vs. vs. 93.659 high; CDXHY5 high yield index at 99.732 (+0.477).
  • Outperforming credit sectors (tighter or least wide): Communications (-0.1) followed by Energy (+0.0) and Health Care (+0.6)
  • Lagging sectors (wider or least narrow): Consumer Discretionary (+2.1) and subordinated Financials (+1.3).