(Reuters) – Credit default swap indexes measuring the cost of insuring against European corporate bond defaults jumped on Monday as riskier assets took a hit following warnings that Russia could invade Ukraine at any time.
The spread on the iTraxx European Crossover index, which measures the cost of insuring exposure to a basket of sub-investment-grade European companies surged 18 basis points on the day to 341.9 bps, the highest since November 2020.
The spread on the iTraxx European index, which measures the cost of insuring against investment-grade corporate bond defaults rose 3 bps to 69.7 bps, the highest since September 2020.
(Reporting by Yoruk Bahceli; editing by Dhara Ranasinghe)
