Euro Credit Default Protection Costs Drop as U.S. Halts Attack on Iran
Dow Jones
Aug 03
0904 GMT - The cost of insuring euro credit against default falls as market sentiment improves after the U.S. cancelled a planned attack against Iran. President Trump said that U.S. would resume peace talks with Iran on Monday, calming concerns about potential escalation in the Middle East conflict. The iTraxx Europe Main index of euro investment-grade credit default swaps falls 1 basis point to 53bps, S&P Global Market Intelligence data show. The iTraxx Europe Crossover index of euro high-yield CDS falls 5bps to 256bps.
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