Coditel deal still in the works as markets slide

European credit markets weakened further today, as uncertainty persisted over the Greek and US sovereign debts and other peripheral European countries came under further strain. The Markit iTraxx Crossover index was at 470bp at 4.30pm London time on Monday – 10bp wider than Friday’s close. Every Markit index was wider, with the Europe Main out by 3bp at 126bp.