Euro Credit Default Protection Costs Fall After U.S. Midterm Elections Outcome
Dow Jones11-04 18:37
1037 GMT - The cost of default protection for euro credit declines as market sentiment improves after President Trump expressed willingness to work with Democrats following their majority win in the Senate and House of Representatives. "Milder-than-expected remarks from Trump, who accepted the results, prompted investors to unwind defensive positions," IG analysts say in a note. The iTraxx Europe Crossover index of euro high-yield credit default swaps falls 8 basis points to 314bps, S&P Global Market Intelligence data show. The iTraxx Eupore Main index of euro investment-grade CDS falls 2bps to 63bps.
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