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Late Corporate Credit Update: Holding Near Highs

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BulletMarketsFixed IncomeForeign Exchange

Investment-grade corporate credit risk running higher at the moment, well off early highs as stocks rebound off midmorning lows heading into month/half-yr end: SPX eminis trading -48.25 (-1.26%) at 3787 vs. 3741.75 low; DJIA -377.48 (-1.22%) at 30745.06; Nasdaq -188.7 (-1.7%) at 11034.86.

  • Investment grade risk measured by Markit's CDXIG5 index at 101.020 (+0.880); CDXHY5 high yield index at 97.010 (-0.244).
  • Outperforming credit sectors (tighter or least wide): Technology, Utilities and Industrials sectors all (+3.5) followed by Health Care (+3.8) and Communications (+4.1).
  • Lagging sectors (wider or least narrow): Materials (+6.1), Financials -subordinated (+5.5), Consumer Discretionary (+4.7).
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Investment-grade corporate credit risk running higher at the moment, well off early highs as stocks rebound off midmorning lows heading into month/half-yr end: SPX eminis trading -48.25 (-1.26%) at 3787 vs. 3741.75 low; DJIA -377.48 (-1.22%) at 30745.06; Nasdaq -188.7 (-1.7%) at 11034.86.

  • Investment grade risk measured by Markit's CDXIG5 index at 101.020 (+0.880); CDXHY5 high yield index at 97.010 (-0.244).
  • Outperforming credit sectors (tighter or least wide): Technology, Utilities and Industrials sectors all (+3.5) followed by Health Care (+3.8) and Communications (+4.1).
  • Lagging sectors (wider or least narrow): Materials (+6.1), Financials -subordinated (+5.5), Consumer Discretionary (+4.7).