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Late Corporate Credit Update

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Late Corporate Credit Update: Gradual Rebound

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Investment-grade corporate credit risk finishing the session near highs as stocks pare gains after the FI close: SPX eminis trade SPX eminis trade -0.25 (-0.01%) at 4210; DJIA +15.46 (0.05%) at 33327.36; Nasdaq -69.1 (-0.5%) at 12786.75.

  • Investment grade risk measured by Markit's CDXIG5 index +1.314 to 77.621 vs. 73.492 low; CDXHY5 high yield index at 102.340 (-0.157).
  • Outperforming credit sectors (tighter or least wide): subordinated Financials (-4.5), while Communications, Materials and Energy sectors cluster around -3.6.
  • Lagging sectors (wider or least narrow): Utilities (-1.8), Senior Financials (-2.9) , Technology and Industrials (-2.2) followed by Senior Financials.
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Investment-grade corporate credit risk finishing the session near highs as stocks pare gains after the FI close: SPX eminis trade SPX eminis trade -0.25 (-0.01%) at 4210; DJIA +15.46 (0.05%) at 33327.36; Nasdaq -69.1 (-0.5%) at 12786.75.

  • Investment grade risk measured by Markit's CDXIG5 index +1.314 to 77.621 vs. 73.492 low; CDXHY5 high yield index at 102.340 (-0.157).
  • Outperforming credit sectors (tighter or least wide): subordinated Financials (-4.5), while Communications, Materials and Energy sectors cluster around -3.6.
  • Lagging sectors (wider or least narrow): Utilities (-1.8), Senior Financials (-2.9) , Technology and Industrials (-2.2) followed by Senior Financials.