(Bloomberg) -- The risk of owning corporate bonds
fell in Europe and the U.S. as investors pared bets that credit
quality will deteriorate further because of the subprime
mortgage rout, according to traders of credit-default swaps.
Contracts on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies dropped 13,000 euros to 354,000 euros in London,
according to Deutsche Bank AG. The index was at 180,000 euros at
the start of June. The CDX North America Investment Grade Index
dropped $1,250 to $53,750 in New York, Deutsche Bank said.
Read more at Bloomberg Bonds News
fell in Europe and the U.S. as investors pared bets that credit
quality will deteriorate further because of the subprime
mortgage rout, according to traders of credit-default swaps.
Contracts on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies dropped 13,000 euros to 354,000 euros in London,
according to Deutsche Bank AG. The index was at 180,000 euros at
the start of June. The CDX North America Investment Grade Index
dropped $1,250 to $53,750 in New York, Deutsche Bank said.
Read more at Bloomberg Bonds News
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