Banks Lead Decline in European Bond Risk, Default Swaps Show
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Banks led a decline in the cost of insuring European bonds, falling for a second day, according to traders of credit-default swaps.
The Markit iTraxx Financial Index linked to the senior debt of 25 banks and insurers dropped 8 basis points to 168.5, according to JPMorgan Chase & Co. at 9:30 a.m. in London. The subordinated index declined 10.5 basis points to 283.5.