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U.S. Company Credit Swaps Index Holds Near Lowest in 13 Months

The cost of protecting U.S. investment-grade corporate bonds from default using a credit-default swaps index held near the lowest in 13 months.

The Markit CDX North America Investment Grade Index, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, rose 0.3 basis point to a mid-price of 79.6 basis points as of 5:10 p.m. in New York, according to index administrator Markit Group Ltd.