May 20, 2022 19:13 GMT
Investment-grade corporate credit risk receded slightly after extending new 2Y highs earlier after stocks fell Back to March 2021 levels.
- Investment grade risk measured by Markit's CDXIG5 index climbed to 93.711 high just after midday, finished +2.383 at 92.189 as stocks see-sawed off lows; CDXHY5 high yield index at 98.789 (-0.556).
- Outperforming credit sectors (tighter or least wide): Health Care (+1.7), Communications, Technology and Consumer Staples all around (+2.2).
- Lagging sectors (wider or least narrow): Energy (+3.1), Materials (+3.0) and Consumer Discretionary (+2.8).