Sovereign Bond Risk Falls in Europe, Reversing Climb to Record
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The cost of insuring against default on European sovereign debt fell, reversing an earlier rise, according to traders of credit-default swaps.
The Markit iTraxx SovX Western Europe Index of swaps on 15 governments declined two basis points to 380 at 11:30 a.m. in London, after climbing to a record 386. A decline signals improvement in perceptions of credit quality.