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Late Corporate Credit Update

US

Investment-grade corporate credit risk levels inched lower late Friday, lower half of the session range as short end rates rebounded again after dovish Fed speak from Collins and Barkin earlier, stocks off midday lows as well

  • Investment grade risk measured by Markit's CDXIG5 index is currently -2.397 at 91.641 vs. 94.786 high; CDXHY5 high yield index at 98.822 (+0.487).
  • Outperforming credit sectors (tighter or least wide): subordinated Financials (-2.5), Communications (-2.2) and Consumer Discretionary (-1.9).
  • Lagging sectors (wider or least narrow): Materials (-1.0), , Sr Financials (-1.3) and Industrials (-1.6).

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