Spain Leads Increase in European Credit Risk on Deficit Concern
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Credit-default swaps on Spain rose to a record and the cost of insuring French and Italian government debt climbed to the highest levels since January as countries struggle to tame their budget deficits.
Swaps on Spanish debt jumped as much as 16 basis points to a record 514, and were trading at 507 at 10:40 a.m. in London. Italy and France headed for the biggest weekly increases in about four months.