European corp bond insurance costs jump after Ukraine nuclear complex fire
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[BRUSSELS] Credit default swap indexes measuring the cost of insuring against European corporate bond defaults jumped on Friday to the highest in nearly two years as news of a fire near a Ukraine nuclear facility following fighting with Russian forces heightened investor fears.
The spread on the iTraxx European Crossover index, which measures the cost of insuring exposure to a basket of sub-investment-grade European companies, jumped 29 bps to its highest since June 2020 at 388.2 bps.
The spread on the iTraxx European index, which measures the cost of insuring against investment-grade corp bond defaults rose 6 bps to 80.5 bps, the highest since May 2020.
The spread on the iTraxx Europe senior financials index, which measures the cost of insuring against senior bonds from financial issuers rose 7 bps to 91.7 bps, also the highest since May 2020.REUTERS
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