Credit Calls

J.P. Morgan's report highlights strong 1Q26 performance in the HG Energy sector and a one-year high in the USD IG FAB index. It also maintains a Neutral rating on Centene despite its recent downgrade to High Yield.

Key Takeaways

• 1.The High Grade Energy sector performed well in 1Q26, benefiting from elevated commodity prices despite disruptions in the Middle East and weather-related headwinds.
• 2.J.P. Morgan's Foreign Attractiveness of USD IG Bonds (FAB) index reached its highest level since April 2025, driven by falling local government yields in EMEA.
• 3.Centene (CNC) is maintained at a Neutral rating following its downgrade to High Yield, as analysts believe it is better diversified than peers like Molina Healthcare.

Table of Contents

• Feature
• Strategy & Sector Commentary
• Head of North America Credit Research and Strategy
• Company Comments
• Important Disclosures
• History of Investment Recommendations
• Explanation of Credit Research Valuation Methodology, Ratings and Risk to Ratings
• Other Disclosures
• Legal Entities Disclosures and Country-/Region-Specific Disclosures

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial