Oct. 16 (Bloomberg) -- A measure of stress in U.S. credit markets reached the lowest level in 19 years.
The U.S. two-year interest-rate swap spread narrowed 1.62 basis points to 9.13 basis points, as of 12:23 p.m. in New York, according to data compiled by Bloomberg.
That’s the lowest level on an intra-day basis since Sept. 28, 1993, for the measure, which falls when investors favor assets such as corporate bonds and rises when they seek the perceived safety of government securities.
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