(Bloomberg) -- Corporate bond risk soared today to
the highest in 13 months after Standard & Poor's raised the
possibility of downgrading $12 billion of subprime mortgage
securities, stoking concerns that the flow of money in other
markets may be curbed, according to credit-default swap traders.
The CDX North America Investment-Grade Index of credit-
default swaps on 125 companies increased $3,500 to $46,500 at
2:35 p.m. in New York, according to broker Phoenix Partners
Group, the highest since January 2006. In Europe, the iTraxx
Crossover Series 7 Index of 50 companies jumped as much as
24,500 euros to 271,000 euros, the biggest daily move in more
than two years, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
the highest in 13 months after Standard & Poor's raised the
possibility of downgrading $12 billion of subprime mortgage
securities, stoking concerns that the flow of money in other
markets may be curbed, according to credit-default swap traders.
The CDX North America Investment-Grade Index of credit-
default swaps on 125 companies increased $3,500 to $46,500 at
2:35 p.m. in New York, according to broker Phoenix Partners
Group, the highest since January 2006. In Europe, the iTraxx
Crossover Series 7 Index of 50 companies jumped as much as
24,500 euros to 271,000 euros, the biggest daily move in more
than two years, according to JPMorgan Chase & Co.
Read more at Bloomberg Bonds News
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