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Corporate Bonds

Can US distressed funds save European HY from torment?

High yield credit default swaps tightened again on Thursday, raising spirits in the market, though it remains closed. The Markit iTraxx Crossover index of 50 European high yield and crossover CDS closed at 812bp, 31bp inside Wednesday’s close and more than 60bp lower than its Tuesday close of 874bp, the highest this year.

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