Credit Indicators

With all that's going on today including the advance leak of the F_E_D minutes (remember these reports are in media hands under embargo and I suspect this is exactly how Wall Street front runs important releases as they may have a few friends that make a few extra bucks for sending them information), oddly there isn't much of a shift anywhere.

Commodities are doing better then they have recently, but nothing to get too excited about, High Yield Corporate is actually underperforming the market, the market is slightly ahead of the Euro, but again nothing huge, rates haven't changed much in 3 days, but just saw a sharp move down starting around 12:50, High Yield Credit moved up yesterday, but hasn't moved any higher then yesterday's move, Financials momentum wise seem to be underperforming the broad market, but JEF is in the news today with more trouble, and supporting all of these finding, the current intraday CONTEXT Model of the risk basket vs ES has converged.

You can see the current difference is at the zero line, meaning ES is in line with the model.