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Late Corporate Credit Update: Credit Risk Continues To Inch Lower

US

Investment-grade corporate credit risk holds near six week lows as bull cycle for stocks continue. Currently, SPX eminis trade +55.75 (1.37%) at 4129; DJIA +276.07 (0.85%) at 32804.9; Nasdaq +210.5 (1.7%) at 12372.85.

  • Investment grade risk measured by Markit's CDXIG5 index -0.367 to 80.191; CDXHY5 high yield index at 101.181 (+0.076).
  • Outperforming credit sectors (tighter or least wide): Financials Sr (-3.8) and subordinated (-3.6) followed by Energy (-2.3) and Consumer Staples (-2.1).
  • Lagging sectors (wider or least narrow): Technology, Communications and Utilities averaging -1.6.

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