Bank Default Swaps Rise Most in Month on Bets for More Capital
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The cost of insuring against losses on bonds sold by European financial companies rose by the most in a month on concern higher capital requirements and losses from sovereign debt holdings will endanger the recovery.
The Markit iTraxx Financial Index of credit-default swaps on 25 banks and insurers rose for a second day, climbing 8.25 basis points to 137.75, according to JPMorgan Chase & Co. at 3:30 p.m. in London. European government debt risk also rose.