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Late Corporate Credit Update: On Simmer

US

Investment-grade corporate credit risk held higher levels by Wednesday's close, near the middle of the session range, small comfort as stocks bounced off overnight lows: SPX emini futures ESU2 currently +1.5 at 3769.25 vs. 3693.50 low; WTI crude -3.76 at 105.76 vs. 101.67 low.

  • Investment grade risk measured by Markit's CDXIG5 index at 99.421 (+1.501); CDXHY5 high yield index at 97.497 (-0.050).
  • Outperforming credit sectors (tighter or least wide): Industrials (+3.5), followed by Utilities (+3.7) and Health Carte (+4.0).
  • Lagging sectors (wider or least narrow): Consumer Discretionary (+5.8), followed by Sr Financials, Materials and Energy, all +5.3.
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Investment-grade corporate credit risk held higher levels by Wednesday's close, near the middle of the session range, small comfort as stocks bounced off overnight lows: SPX emini futures ESU2 currently +1.5 at 3769.25 vs. 3693.50 low; WTI crude -3.76 at 105.76 vs. 101.67 low.

  • Investment grade risk measured by Markit's CDXIG5 index at 99.421 (+1.501); CDXHY5 high yield index at 97.497 (-0.050).
  • Outperforming credit sectors (tighter or least wide): Industrials (+3.5), followed by Utilities (+3.7) and Health Carte (+4.0).
  • Lagging sectors (wider or least narrow): Consumer Discretionary (+5.8), followed by Sr Financials, Materials and Energy, all +5.3.