Credit Calls

J.P. Morgan's daily credit report highlights divergent trends in Telecom/Cable, positive 1Q26 results for Venture Global and Unity Electronics, and modest flattening in HG credit curves.

Key Takeaways

• 1.U.S. wireless carriers show healthy subscriber trends, while cable operators face accelerating broadband subscriber losses.
• 2.High-grade credit spread curves flattened as JULI spreads reached 3-month tights of 88bp.
• 3.iHeartCommunications' full-year estimates were lowered following weak 1Q results and advertising softness.

Table of Contents

• Feature
• Strategy & Sector Commentary
• Curveball: HG Credit Curve Opportunities
• Company Comments
• Important Disclosures
• Other Disclosures
• Legal Entities Disclosures and Country-/Region-Specific Disclosures

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