(Bloomberg) -- The risk of owning corporate bonds
rose to the highest in more than two years in Europe on concern
hedge funds may have to sell assets to cover losses, according
to traders of credit-default swaps.
Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 21,000 euros to 365,000 euros at 1:25 p.m.
in London, according to JPMorgan Chase & Co. The index, which
increases as perceptions of credit quality deteriorate, has more
than doubled since the start of June.
Read more at Bloomberg Bonds News
rose to the highest in more than two years in Europe on concern
hedge funds may have to sell assets to cover losses, according
to traders of credit-default swaps.
Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased 21,000 euros to 365,000 euros at 1:25 p.m.
in London, according to JPMorgan Chase & Co. The index, which
increases as perceptions of credit quality deteriorate, has more
than doubled since the start of June.
Read more at Bloomberg Bonds News
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