Company Debt Risk Surges to Highest Since April 2009 in Europe
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The cost of insuring corporate debt surged to its highest in more than two years in Europe amid the region’s deepening sovereign debt woes.
“The coming weeks are likely to be challenging for risk assets,” said Shahzada Omar Saeed, the Zurich-based global head of high-yield at Swisscanto Asset Management, which manages about 1.2 billion euros ($1.7 billion) of assets.