Bank Bond Risk Rises in Europe on Concern Recovery Is Faltering
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Financial companies led an increase in the cost of insuring European debt on concern an employment slowdown may add to evidence the recovery is faltering.
The Markit iTraxx Financial Index of credit-default swaps on the senior debt of 25 banks and insurers rose 2.5 basis points to 135, and the subordinated index was up 8 at 233.5, according to JPMorgan Chase & Co. at 10:30 a.m. in London. An increase signals deterioration in perceptions of credit quality