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Mon, November 24, 2025

G-255 Credit and Equity Market Indicators

G-255 Credit and Equity Market Indicators November 24

  • Attractive Long Credit Indicators: 116, (+25 from Friday and +6% above the 200-day moving average of all long indicators). 18 long credit indicators are not included owing to the underlying equity price declines of more than -10% in the past 30 calendar days.

  • Attractive Long Credit Market Cap accounts for: 37% of all undervalued Systematic Credit capital.

  • Attractive Short Credit Indicators 373, (-40 from Friday and -27% below the 200-day moving average of all model short trade indicators).

  • Attractive Short Credit Market Cap accounts for: 27% of all overvalued Systematic Credit capital.

G-255 Equity Trade Indicators and US Equity Correlation to Overall US Credit Spreads

US equities and credit markets failed to correlate directionally for a 7th day. G – 255 issuer credit was wider while US equity indexes were higher.

  • US equities are roughly -2.95% lower WoW; US credit markets are slightly wider in the week ended November 21

  • US equities are -3.1% lower over the past month, US credit spreads are now materially wider MoM.

2025 is on track for the second-weakest year in 32 for USD credit-equity correlated movement—historic 80% vs. ~74% this year.

Systematic Equity Trading Indicators November 21

• Attractive Long G-255 Equity Trade Indicators: 74 (includes both undervalued and equities priced at extreme discount (+8 from Friday and +15% to the 200-day moving average of all long trade indicators).

• Attractive Short Equity Trade Indicators 9, (+4 from Friday and -11% below the 200-day moving average of all model short trade indicators).

  • For G-255 issuers, equity prices of the world's most indebted companies were +1.1% Friday and -1.84% over the past week, while the S&P 500 rose +.98% Friday and fell -1.95% over the past week.

  • Why are G-255 equity issues outperforming the S&P and Dow? A: Over 30% of the 242 publicly traded G -255 equities have already reached their 2025 low price and 40% of the G-255 issuers are non – US corporates.

G-255 issuer news over the weekend

BHP Group (BHP A1/A short credit/long equity) has made a renewed takeover approach to Anglo American

Plc, (AALLN Baa2/BBB short credit/long equity) according to weekend Bloomberg report. Anglo American sin the process of acquiring Teck Resources Ltd. in an all-stock deal.

Paramount Skydance Corp (PARA Baa3/BB+ long credit/equity), Netflix Inc (NFLX) and Comcast Corp (CMCSA

A3/A- long credit/debt) are the final bidders for all or part of Warnermedia Holdings (WBD Ba3/BB long

credit/equity). Articles this weekend revolved around FCC / regulatory clearance. However almost any media combination with Warner assets would create regulatory review.

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.