CREDIT DAYBOOK AMERICAS: IG Risk Gauge Rises; Bond Sales to Slow

The US investment-grade CDX index is rising amid a broader equity rout as investors prepare for a potentially outsized interest rate hike from the Federal Reserve on Wednesday. High-grade issuance estimates suggest a relatively subdued week with bond yields at 13-year high.

• The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, widened 1.08 basis points to 90.2 as of 7:15 a.m. New York time
  • Average high-grade bond yields remain at the highest level since August 2009 and may climb higher after the Fed meeting. Top Wall Street strategists also see mounting ...