Credit-default swaps fall for week
Prices to protect corporate bonds against default fell for the first week since June as global financial markets stabilised.
By Agencies |
LONDON: Prices to protect corporate bonds against default fell for the first week since June as global financial markets stabilised.
Credit-default swaps on E10 million of debt included in the iTraxx Crossover Series 7 Index of 50 European companies dropped E5,000 to E390,000 in morning trade in London and are down E52,000 for the week, according to JP Morgan Chase & Co.
The contracts used to speculate on credit quality rose to the highest in at least three years at the start of the week.
Credit-default swaps on E10 million of debt included in the iTraxx Crossover Series 7 Index of 50 European companies dropped E5,000 to E390,000 in morning trade in London and are down E52,000 for the week, according to JP Morgan Chase & Co.
The contracts used to speculate on credit quality rose to the highest in at least three years at the start of the week.
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