Swaps Outlook Bleakest Since ’09 as Growth Slows: Credit Markets
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Investors are the most pessimistic about the outlook for corporate credit in three years as the global economy shows signs of faltering, with euro-area leaders struggling to contain the sovereign-debt crisis and U.S. unemployment stuck above 8 percent for 41 months.
A three-month forecast for a benchmark credit-default swaps index in the U.S. swung negative in July, dropping to -19.1 from