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CREDIT DAYBOOK AMERICAS: Risk Easing; New Issue Premiums Soar

Oct. 7, 2022, 11:30 AM

A key measure of credit risk opened tighter ahead of a much anticipated jobs report that will give investors clues on the Federal Reserve’s monetary-policy path. Meanwhile, the extra yield premium that borrowers have to offer to sell new investment-grade debt soared on Thursday to nearly four times the year-to-date average.

  • The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, tightened 0.86 basis points to 97.9 as of 7:09 a.m. New York time
    • A strong jobs report means the “long pined for Fed pivot is on ice for now,” and credit ...