Banks Lead Rise in Europe Bond Risk on Economic ‘Double Whammy’
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Banks led an increase in the cost of insuring against default on corporate bonds as investors bet slowing U.S. growth will hurt Europe’s recovery.
The Markit iTraxx Financial Index of credit-default swaps on the senior debt of 25 European banks and insurers rose 5 basis points to 136, heading for a third weekly increase, according to JPMorgan Chase & Co. at 3 p.m. in London.