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Late Corporate Credit Update: Steady Near Month Highs

US

Investment-grade corporate credit risk remained near highs for the month - inside relatively narrow session range as stocks hold mixed in late trade: SPX eminis trade -1.25 (-0.03%) at 4139.75; DJIA -107.91 (-0.33%) at 32954.7; Nasdaq +42 (0.3%) at 12422.75.

  • Investment grade risk measured by Markit's CDXIG5 index -0.524 to 83.918; CDXHY5 high yield index at 100.467 (+0.160).
  • Outperforming credit sectors (tighter or least wide): Energy (-3.5), followed by Consumer Staples and Communications both -2.9, Utilities -2.6.
  • Lagging sectors (wider or least narrow): Senior Financials (-1.7), Consumer Discretionary (-1.9) followed by subordinated Financials (-2.2) and Tecnology (-2.3).
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