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Late Corporate Credit Update: Stable Near Session Highs


Investment-grade corporate credit risk heald near late Friday session highs as autos and high-tech sectors weighed on major indexes, SPX emini futures, ESM2 currently trading 4116.25 (-59.00).

  • Back near early Thursday highs, investment grade risk measured by Markit's CDXIG5 index gained 1.648 to 81.292 vs. 82.080 high on Thu; CDXHY5 high yield index at 101.161 (-0.492).
  • Outperforming credit sectors (tighter or least wide): Materials (-0.3), Financials (subordinated) (-0.2) followed by Energy (+0.2)
  • Lagging sectors (wider or least narrow): Communications (+1.1), Consumer Staples and Health Care both +0.6-0.8.

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