Reports Library
Mon, November 24, 2025

Systematic Credit G-255 Long/Short Credit Trading Sector Indicators for November 24, 2025

G-255 Credit Trading Sector Indicators and Friday Credit Trading

With US credit flows near a standstill, the widening in overall credit is the path of least resistance for both credit markets. G-255 equities have from a long only perspective outperformed US equity indices and USD credit. This owes primarily to the % of financials in the G-255 and that 40% of the equities are non - US based. Credit indicators are now (slightly) undervalued for the first time since June. However, absent credit inflow and movement in underlying equity prices, the patch for credit spreads remains the same. No indicator changes in the Systematic Trading Model trade allocation for either credit or equities overnight.

  • Top traded IG G – 255 issuer: Meta Platforms (Aa3/AA- Hold credit/long equity) unchanged on Friday

  • Top Traded HY G – 255 issuer: Petroleos Mexicanos (PEMEX B1/BBB long credit) (+5 to +12bp) on Friday

Key Systematic Trading Model Economic Indicators Reported Friday:

  • S&P purchasing managers' index for November was 55 vs 54.8 in October.

  • Employment fell to 50.9 vs 51.4 in Oct.

  • Prices charged rose to 63.1, the second highest level in three years.

  • US University of Michigan consumer sentiment index fell to 51 from 53.6 in October.

  • The current conditions gauge slid 7.5 points to a record low of 51.1. Views of personal finances were the dimmest since 2009.

Disclaimer - This report is not intended as, and does not constitute an offer, or a solicitation to buy or sell any securities or financial instruments. All data, levels, opinions, and representations herein are provided for informational purposes only and should not be relied upon for making investment decisions. Past performance is not indicative of future results. The authors of this report assume no liability for losses or damages arising from the use of this information. Investors should consult with a qualified financial advisor before making any investment decisions. The information in this report is based on sources believed to be reliable, but no guarantee is made as to its accuracy, completeness, or timeliness.