Well off early session highs, investment-grade corporate credit risk holds near last week's six week lows w/ post-FOMC relief rally in stocks. Currently, SPX eminis trade 4028.75 +105.25; DJIA +463.02 (1.46%) at 32229.85; Nasdaq +473.4 (4.1%) at 12036.55.
- Investment grade risk measured by Markit's CDXIG5 index -3.634 to 83.601; CDXHY5 high yield index at 100.506 (+0.856).
- Outperforming credit sectors (tighter or least wide): Communications (-4.2), Industrials, Technology and Consumer Staples all -3.9.
- Lagging sectors (wider or least narrow): Financials (subordinated) -1.5%, Senior Financials (-2.0), followed by Materials (-2.4)