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Late Corporate Credit Update

US

Investment-grade corporate credit risk continued to cool Monday, back near mid-September levels as stocks maintain moderate gains (SPX eminis +35.50 at 3799.5)

  • Investment grade risk measured by Markit's CDXIG5 index is currently -1.323 at 92.915; CDXHY5 high yield index at 98.594 (+.211).
  • Outperforming credit sectors (tighter or least wide): Communications (-2.6), Sr Financials (-2.3) and Technology (-2.2)
  • Lagging sectors (wider or least narrow): Energy and Consumer Discretionary both -1.5, followed by Utilities (-1.6), and Health Care -1.7

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