Free Trial

Late Corporate Credit Update: Elevated but Off Highs

US

investment-grade corporate credit risk cooled slightly but remained elevated as stocks pared earlier losses after Fed Gov Waller comments that CPI only anchored his 75bp hike view. SPX eminis currently trading -10.25 (-0.27%) at 3793; DJIA -146.43 (-0.48%) at 30624.17; Nasdaq +9.6 (0.1%) at 11256.33.

  • Investment grade risk measured by Markit's CDXIG5 index +1.590 to 95.590; CDXHY5 high yield index at 97.719 (-0.377).
  • Outperforming credit sectors (tighter or least wide): Utilities (+0.5) and health Care (+0.8) followed by Industrials and Energy +1.1.
  • Lagging sectors (wider or least narrow): Financials subordinated (+2.2) followed by Materials (+1.9), Sr Financials and Communications, both +1.7

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.