Sovereign Debt Risk Jumps Most in Five Months After ECB Meeting
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The cost of insuring against default on sovereign debt rose the most in five months after European Central Bank President Mario Draghi failed to signal the lender will buy more bonds.
The Markit iTraxx SovX Western Europe Index of credit-default swaps on 15 governments climbed 31 basis points to 363 at 5 p.m. in London, the biggest jump since July. The Markit iTraxx Crossover Index of 50 companies with mostly high-yield credit ratings increased 48.5 basis points to 763, the highest in more than a week, according to JPMorgan Chase & Co.