(Bloomberg) -- The risk of owning European
corporate bonds soared to the highest in at least three years
after Germany's IKB Deutsche Industriebank AG reported losses on
U.S. subprime mortgages, credit-default swap prices show.
Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 34,000 euros to 478,000 euros at 10:35 a.m.
in London, according to JPMorgan Chase & Co. Credit-default
swaps are used to speculate on the ability of companies to repay
debt and an increase indicates worsening perceptions of credit
quality.
Read more at Bloomberg Bonds News
corporate bonds soared to the highest in at least three years
after Germany's IKB Deutsche Industriebank AG reported losses on
U.S. subprime mortgages, credit-default swap prices show.
Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 34,000 euros to 478,000 euros at 10:35 a.m.
in London, according to JPMorgan Chase & Co. Credit-default
swaps are used to speculate on the ability of companies to repay
debt and an increase indicates worsening perceptions of credit
quality.
Read more at Bloomberg Bonds News
No comments:
Post a Comment