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(Z2) Remains Vulnerable

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(Z2) More Stable, But Remains Fragile

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Late Corporate Credit Update: Near Lows for Week

US

Investment-grade corporate credit risk cooled Friday, near session lows as stocks looked to finish near highs. Risk appetite improved as Atlanta Fed Bostic, SF Fed Daly helped temper the hawkish post-CPI rhetoric. SPX eminis currently trading +64.5 (1.7%) at 3858.25; DJIA +589.96 (1.93%) at 31224.49; Nasdaq +171.9 (1.5%) at 11424.61.

  • Investment grade risk measured by Markit's CDXIG5 index -3.666 to 91.022; CDXHY5 high yield index at 98.699 (+0.895).
  • Outperforming credit sectors (tighter or least wide): Communications (-2.7) Consumer Staples and Health Care both -2.5.
  • Lagging sectors (wider or least narrow): Materials (-0.8), Industrials, Utilities and Energy all -1.9.
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Investment-grade corporate credit risk cooled Friday, near session lows as stocks looked to finish near highs. Risk appetite improved as Atlanta Fed Bostic, SF Fed Daly helped temper the hawkish post-CPI rhetoric. SPX eminis currently trading +64.5 (1.7%) at 3858.25; DJIA +589.96 (1.93%) at 31224.49; Nasdaq +171.9 (1.5%) at 11424.61.

  • Investment grade risk measured by Markit's CDXIG5 index -3.666 to 91.022; CDXHY5 high yield index at 98.699 (+0.895).
  • Outperforming credit sectors (tighter or least wide): Communications (-2.7) Consumer Staples and Health Care both -2.5.
  • Lagging sectors (wider or least narrow): Materials (-0.8), Industrials, Utilities and Energy all -1.9.