(Bloomberg) -- The risk of owning U.S. corporate
bonds soared, erasing the biggest drop in at least three years,
as investors signaled that worries about widening losses from
subprime mortgages aren't over.
Credit-default swaps based on $10 million of bonds in the
benchmark CDX North American Investment-Grade Index jumped
$9,000 to about $81,000 at 4:03 p.m. in New York after dropping
earlier by as much as $9,000 to $63,000, according to Deutsche
Bank AG. During the past four days, the index, used to speculate
on corporate creditworthiness, has recorded its two worst and
two best days since it started trading more than three years
ago, according to data from Credit Suisse Group.
Read more at Bloomberg Bonds News
bonds soared, erasing the biggest drop in at least three years,
as investors signaled that worries about widening losses from
subprime mortgages aren't over.
Credit-default swaps based on $10 million of bonds in the
benchmark CDX North American Investment-Grade Index jumped
$9,000 to about $81,000 at 4:03 p.m. in New York after dropping
earlier by as much as $9,000 to $63,000, according to Deutsche
Bank AG. During the past four days, the index, used to speculate
on corporate creditworthiness, has recorded its two worst and
two best days since it started trading more than three years
ago, according to data from Credit Suisse Group.
Read more at Bloomberg Bonds News
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