Euro Credit Default Protection Costs Increase Amid AI, Geopolitical Concerns
Dow Jones
Sep 15
0924 GMT - The cost of insuring euro credit against default climbs due to a deterioration in market sentiment as AI concerns and geopolitical tensions mount. Chief executives of major AI companies said they need to slow the pace of development, causing tech stocks to drop. In addition, a widening conflict in the Middle East has reduced appetite for risk, hurting risk assets such as stocks and corporate bonds. The iTraxx Europe Crossover index of euro high-yield credit default swaps rises 2 basis points to 265bps, the highest since July 29, S&P Global Market Intelligence data show.
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