Euro Credit Default Protection Costs Climb Amid U.S.-Iran Tensions
Dow Jones
Sep 28
1017 GMT - The cost of insuring high-yield euro credit against default rises to its highest in more than five months as market sentiment weakens due to renewed U.S.-Iran tensions. President Trump rejected Iran's plan to reopen the Strait of Hormuz, raising concerns about prolonged oil supply disruptions. Brent crude rises 3.7% to $108.18 a barrel. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 1 basis point to 298bps, the highest since April 8, S&P Global Market Intelligence data show.
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