U.S. Company Credit Swaps Hold; Pfizer Sells $4 Billion in Bonds
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A gauge of U.S. corporate credit risk was little changed as Pfizer Inc. sold $4 billion in bonds, its first debt offering since 2009.
The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark that investors use to hedge against losses or to speculate on creditworthiness, dropped 0.3 basis point to a mid-price of 75.5 basis points at 4:11 p.m. in New York, according to prices compiled by Bloomberg.