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Late Corporate Credit Update

US

Investment grade credit spds gapped wider on the second-half risk-off move tied to Russia/Ukraine tensions (see 1425ET bullet), have scaled back appr half the move as stocks bounce, SPX eminis -24.0 at 4385.50.

  • Investment grade risk currently near early session highs.
    • IG corporate credit risk measured by Markit's CDX IG5 index currently 67.830 (-0.007), 70.109 H/ 66.004 L
    • High-yield index, CDXHY5, currently 105.325 (-.085), 105.678 H/ 105.07 L

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