Economics
U.S. Credit-Default Swaps Increase With Portugal ‘On the Brink’
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The cost of protecting U.S. corporate bonds from default rose as Portugal’s pending budget vote, which may trigger a bailout, put Europe’s debt crisis back in the spotlight.
The Markit CDX North America Investment Grade Index, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, increased 0.2 basis point to a mid-price of 97 basis points as of 5:19 p.m. in New York, according to index administrator Markit Group Ltd.