Euro Credit Default Protection Costs Climb as Risk Appetite Weakens
Dow Jones
Oct 01
0942 GMT - The cost of insuring euro credit against default rises, with high-yield credit default swaps hitting their highest in nearlysix months, as investors exercise caution due to elevated oil prices and inflation fears. Global sovereign bond yields have surged to multi-decade highs, signaling market jitters and reduced risk appetite, AJ Bell's Russ Mould says in a note. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 4 basis points to 305bps, S&P Global Market Intelligence data show.
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