"A benchmark gauge of U.S. company credit risk rose by the most since December on declining confidence in the global economy as reports showed manufacturing contracted in Europe and China.
The Markit CDX North America Investment Grade Index of credit-default swaps, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, increased 3.7 basis points to a mid-price of 90.5 basis points at 4:50 p.m. in New York, according to Markit Group Ltd.
A preliminary measure of Chinese manufacturing dropped to 48.1 in March, the lowest level in four months, based on figures from HSBC Holdings Plc and Markit Economics. China had earlier this month cut its economic growth target to 7.5 percent from an 8 percent goal in place since 2005. Euro-area services and manufacturing output also contracted more than forecast even asjobless claims fell in the U.S. last week..."
at http://www.bloomberg.com/news/2012-03-22/credit-swaps-in-u-s-rise-on-concern-global-economy-is-slowing.html
The Markit CDX North America Investment Grade Index of credit-default swaps, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, increased 3.7 basis points to a mid-price of 90.5 basis points at 4:50 p.m. in New York, according to Markit Group Ltd.
A preliminary measure of Chinese manufacturing dropped to 48.1 in March, the lowest level in four months, based on figures from HSBC Holdings Plc and Markit Economics. China had earlier this month cut its economic growth target to 7.5 percent from an 8 percent goal in place since 2005. Euro-area services and manufacturing output also contracted more than forecast even asjobless claims fell in the U.S. last week..."
at http://www.bloomberg.com/news/2012-03-22/credit-swaps-in-u-s-rise-on-concern-global-economy-is-slowing.html
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