Sovereign Default Risk Falls in Europe on Ireland Bailout Bets
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The cost of insuring against losses on European government bonds fell on speculation pressure from euro-region central bankers will force Ireland to accept an international bailout that would calm markets.
Credit-default swaps on Irish government debt fell for a third day, dropping 58.5 basis points to 488, the lowest level since Oct. 29, according to data provider CMA. The Markit iTraxx SovX Western Europe Index of swaps on 15 governments declined