Junk-Bond Fear Index Spikes on U.K., But It’s No Glencore: Chart

Brexit’s bite is being felt across the Atlantic in the riskiest parts of credit markets. The cost to protect junk-rated companies from default surged Friday, though the selloff was only the ninth biggest spike in fear-index data going back to 2012. The largest came in September, as a Chinese economic slowdown caused a mining rout, led by Glencore Plc.

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