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Late Corporate Credit Update

US

Investment-grade corporate credit risk steady near late Tuesday lows, back to mid-September levels as stocks saw the third consecutive session of decent gains.

  • Investment grade risk measured by Markit's CDXIG5 index is currently -2.072 at 91.572; CDXHY5 high yield index at 98.861 (+.438).
  • Outperforming credit sectors (tighter or least wide): Energy (-3.4), Technology and Communications (-3.0) followed by Consumer Staples and Discretionary both sectors -2.3
  • Lagging sectors (wider or least narrow): Materials and subordinated Financials both -1.5, Health Care -1.8 followed by Utilities -1.9.

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