(Bloomberg) -- Corporate bond risk soared in Europe
by the most in at least three years as debt rating downgrades on
U.S. subprime securities triggered a worldwide selloff,
according to traders of credit-default swaps.
Credit-default swaps on 10 million euros ($13 million) of
debt sold by 50 companies from Italian automaker Fiat SpA to
betting group Ladbrokes Plc in London jumped 25,000 euros to
291,000 euros, according to prices on the iTraxx Crossover
Series 7 Index from JPMorgan Chase & Co. The increase is the
biggest on any day since the index started in 2004.
Read more at Bloomberg Bonds News
by the most in at least three years as debt rating downgrades on
U.S. subprime securities triggered a worldwide selloff,
according to traders of credit-default swaps.
Credit-default swaps on 10 million euros ($13 million) of
debt sold by 50 companies from Italian automaker Fiat SpA to
betting group Ladbrokes Plc in London jumped 25,000 euros to
291,000 euros, according to prices on the iTraxx Crossover
Series 7 Index from JPMorgan Chase & Co. The increase is the
biggest on any day since the index started in 2004.
Read more at Bloomberg Bonds News
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