Sovereign, Corporate Bond Risk Rise, Credit-Default Swaps Show
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The cost of insuring against default on European sovereign and corporate debt rose, according to traders of credit-default swaps.
The Markit iTraxx SovX Western Europe Index of swaps on 15 governments jumped 13 basis points to 376.5 at 9 a.m. in London, approaching the record 385 set Nov. 25. An increase signals deterioration in perceptions of credit quality.