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Late Corporate Credit Update: Holding Steady

US

Investment-grade corporate credit risk held near steady late Monday, IG5 drifting in narrow range through the second half as stocks pared modest morning rally.
Currently, SPX eminis trade -8.0 (-0.19%) at 4139.25; DJIA +17.87 (0.05%) at 32824.18; Nasdaq -26.1 (-0.2%) at 12632.75.

  • Investment grade risk measured by Markit's CDXIG5 index +0.245 to 80.871; CDXHY5 high yield index at 101.574 (+0.152).
  • Outperforming credit sectors (tighter or least wide): Energy (+1.0), Consumer Discretionary and Consumer Staples both +1.2 while Industrials climb +1.5.
  • Lagging sectors (wider or least narrow): Senior Financials (+2.2, Materials and Utilities both +1.9, Health Care +1.8.

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