US Credit Risk Gauges Fluctuate as Middle East Tension Escalates

A key gauge of US credit risk fluctuated between gains and losses on Monday, tightening after Qatar said it intercepted missiles from Iran targeting a US military base, without any casualties.

The spread on the Markit CDX North American Investment Grade Index, which rises as perceived risk does, tightened 0.62 basis points to 55.4 basis points as of 1:42 p.m. in New York, after climbing as much as 1.61 points to 57.63 earlier in the day.