Sovereign, Corporate Bond Risk Falls, Credit-Default Swaps Show
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The cost of insuring against default on European sovereign and corporate debt fell, according to traders of credit-default swaps.
The Markit iTraxx SovX Western Europe Index of swaps on 15 governments declined nine basis points to 348 at 12 p.m. in London, the lowest since Dec. 7. A decline signals improvement in perceptions of credit quality.