Euro Credit Default Protection Costs Edge Lower as Risk Sentiment Improves
Dow Jones
Sep 17
0928 GMT - The cost of euro credit default protection declines as market sentiment improves following the U.S. Federal Reserve interest-rate decision on Wednesday. The Fed raised interest rates by a quarter-point as widely expected, and signalled the possibility of more rate increases at future meetings. This reduced the uncertainty around the U.S. interest-rate outlook, resulting in renewed appetite for risk assets. The iTraxx Europe Crossover index of euro high-yield credit default swaps falls 2 basis points to 257bps, S&P Global Market Intelligence data show.
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