(Bloomberg) -- The risk of owning European
corporate bonds rose to the highest in almost three months amid
concern hedge-fund losses in the U.S. subprime mortgage market
may snowball, according to traders of credit-default swaps.
Contracts on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies jumped 11,500 euros to 228,000 euros, the highest
since April 2, according to Deutsche Bank AG. The rising cost of
credit-default swaps, contracts based on bonds and loans,
indicates deteriorating credit quality.
Read more at Bloomberg Bonds News
corporate bonds rose to the highest in almost three months amid
concern hedge-fund losses in the U.S. subprime mortgage market
may snowball, according to traders of credit-default swaps.
Contracts on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies jumped 11,500 euros to 228,000 euros, the highest
since April 2, according to Deutsche Bank AG. The rising cost of
credit-default swaps, contracts based on bonds and loans,
indicates deteriorating credit quality.
Read more at Bloomberg Bonds News
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