European CDS spreads tighten on ECB purchase plans

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European CDS spreads tighten on ECB purchase plans

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European credit default swap indices tightened yesterday on news that the European Central Bank would buy €60bn worth of bonds a month until September 2016 or later, with the iTraxx Main closing 3bp tighter at 54.7bp and the Crossover also tightening approximately 3bp to 303.1bp.

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