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Late Corporate Credit Roundup: Cooling Off Late

US

Investment-grade corporate credit risk midday six week highs Thursday as stocks stage late session bounce off lows Currently SPX eminis trade -12.5 points (-0.32%) at 3943.75; DJIA +15.16 points (0.05%) at 31528.02; Nasdaq -125 points (-1.1%) at 11693.33.

  • Investment grade risk measured by Markit's CDXIG5 index -0.833 to 91.537 vs. 94.649 session high last seen July 14; CDXHY5 high yield index at 98.910 (+0.163).
  • Outperforming credit sectors (tighter or least wide): Utilities and Consumer Discretionary pared at +2.0, followed by Materials and Technology both at +2.4.
  • Lagging sectors (wider or least narrow): Subordinated Financials +4.7 followed by Communications +4.1 and Energy +3.4, Senior Financials +3.3.

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