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Late Corporate Credit Update, Hold Narrow Range

US

Investment-grade corporate credit risk held near steady Friday as stocks see-sawed off post-jobs data lows. Currently, SPX eminis trade SPX eminis trade -21.5 (-0.52%) at 4131.75; DJIA -14.29 (-0.04%) at 32715.8; Nasdaq -121.6 (-1%) at 12599.4.

  • Investment grade risk measured by Markit's CDXIG5 index +0.295 to 81.208; CDXHY5 high yield index at 101.366 (+0.137).
  • Outperforming credit sectors (tighter or least wide): Materials (-2.0) followed by Senior and subordinated Financials (-1.7, -1.4 respectively), and Consumer Discretionary (-0.7)
  • Lagging sectors (wider or least narrow): Communications (+0.8), Health Care (+0.4) followed by Technology and Industrials (+0.2).

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