U.S. Credit-Default Swaps Index Falls as Jobless Claims Decline
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A gauge of corporate credit risk in the U.S. fell for a second day after a government report showed applications for jobless benefits declined more than forecast.
The Markit CDX North America Investment Grade Index, a credit-default swaps benchmark that investors use to hedge against losses on corporate debt or to speculate on creditworthiness, declined 0.6 basis point to a mid-price of 104.8 basis points as of 4:54 p.m. in New York, according to Markit Group Ltd. Swaps on supermarket chain Safeway Inc. fell the most in four months, and contracts on insurer American International Group Inc. dropped the most in almost a month.