U.S. Speculative-Grade Credit Risk Rises to Highest in 6 Months
This article is for subscribers only.
The cost of protecting U.S. speculative-grade corporate bonds from default climbed to the highest level in six months as concern deepened that the global recovery is slowing.
The Markit Group Ltd. CDX North America High Yield Index, which falls as investor confidence deteriorates and rises as it improves, declined 0.85 percentage point to 99.94 percent of face value as of 5:03 p.m. in New York, according to index administrator Markit. That’s the lowest since Dec. 1.