Italy and Spain led an increase in the cost of insuring bonds sold by Europe’s peripheral nations, according to CMA prices for credit-default swaps.
Swaps on Italy rose 8 basis points to 217 while Spain increased 9 basis points to 306. Contracts on Ireland were 11.5 baais points higher at 553 and Portugal was up 6 to 434.
The Markit iTraxx SovX Western Europe Index of swaps linked to 15 governments rose 3 basis points to 179.5.
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