(Bloomberg) -- The perceived risk of owning
corporate bonds soared worldwide on concern over losses at hedge
funds run by Bear Stearns Cos.
Credit-default swaps based on 10 million euros ($13
million) of debt included in the iTraxx Crossover Series 7 Index
of 50 European companies jumped as much as 16,000 euros to
216,000 euros, the biggest one-day rise in three months,
according to Deutsche Bank AG. The CDX Crossover index in New
York surged as much as $10,000 to a nine-month high of $178,000.
Read more at Bloomberg Currencies News
corporate bonds soared worldwide on concern over losses at hedge
funds run by Bear Stearns Cos.
Credit-default swaps based on 10 million euros ($13
million) of debt included in the iTraxx Crossover Series 7 Index
of 50 European companies jumped as much as 16,000 euros to
216,000 euros, the biggest one-day rise in three months,
according to Deutsche Bank AG. The CDX Crossover index in New
York surged as much as $10,000 to a nine-month high of $178,000.
Read more at Bloomberg Currencies News
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