Bond Risk Rises in Europe With Brexit Concerns as Issuance Slows
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Corporate bond risk surged in Europe and issuance slowed as concern grew that the U.K. will vote to leave the European Union.
The Markit iTraxx Europe Index of credit-default swaps on 125 investment-grade companies rose for a fourth day, climbing to a three-month high of 87 basis points, according to data compiled by Bloomberg. Non-financial companies sold about 14 billion euros of bonds this month, compared with about 30 billion euros in the same period in May, according to data compiled by Bloomberg.