Credit Swaps in U.S. Rise for Second Day as Central Banks Meet
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A gauge of U.S. corporate credit risk rose for a second day as investors await central bank monetary-policy decisions and U.S. consumer spending stalls.
The Markit CDX North America Investment Grade Index, a credit-default swaps benchmark used to hedge against losses on corporate debt or to speculate on creditworthiness, climbed 1.4 basis points to a mid-price of 107.6 basis points at 5:04 p.m. in New York, according to prices compiled by Bloomberg. Contracts tied to Lowe’s Cos. rose to the highest since January after Standard & Poor’s said it may cut the company’s credit rating.