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Corporate Credit Update: Steady

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Late Corporate Credit Update: Off Lows as Equities Sell Off

US

Inside session range for Investment-grade corporate credit risk: mildly higher after the FI close as stocks look to extend late session lows

  • Investment grade risk measured by Markit's CDXIG5 index currently +.363 at 87.572 vs. 89.263 post-data high (near Mon's 2Y high of 90.438); CDXHY5 high yield index at 100.466 (-0.067).
  • Outperforming credit sectors (tighter or least wide): Utilities (-0.4) followed by Financials, Sr (-1.0).
  • Lagging sectors (wider or least narrow): Energy (+1.1), Industrials (+0.9) and subordinated Financials (+0.7).
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Inside session range for Investment-grade corporate credit risk: mildly higher after the FI close as stocks look to extend late session lows

  • Investment grade risk measured by Markit's CDXIG5 index currently +.363 at 87.572 vs. 89.263 post-data high (near Mon's 2Y high of 90.438); CDXHY5 high yield index at 100.466 (-0.067).
  • Outperforming credit sectors (tighter or least wide): Utilities (-0.4) followed by Financials, Sr (-1.0).
  • Lagging sectors (wider or least narrow): Energy (+1.1), Industrials (+0.9) and subordinated Financials (+0.7).