Weak employment data leads to a surge in US credit risk perception

Golden Ten Data reported on March 6 that a weak employment report is having a ripple effect on U.S. credit indicators, as reported by Caleb Mutua: After employers unexpectedly cut jobs in February and the unemployment rate rose, the indicator measuring U.S. credit risk perception hit its worst level in months on Friday, intensifying early trading volatility. The spread of the Markit CDX North American Investment Grade Index widened as credit risk increased, rising by as much as 2.6 basis points to 58.55 basis points, reaching its highest intraday level since May 23 of last year.