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Corporate Bond Risk Makes Record Surge

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First Posted: 07-30-07 09:11 AM   |   Updated: 03-28-08 02:44 AM

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Business News

Bloomberg:

The risk of owning corporate bonds surged by a record as losses on U.S. subprime mortgages at Germany's IKB Deutsche Industriebank AG triggered concerns of global market contagion.

Contracts on 10 million euros ($13.8 million) of debt included in the iTraxx Crossover Series 7 Index of 50 European companies increased as much as 60,000 euros to 504,000 euros, according to JPMorgan Chase & Co. The CDX North American Investment-Grade Index rose $16,000 to $97,000, Deutsche Bank AG prices show.

Read the whole story: Bloomberg

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Filed by Katherine Thomson  |  Report Corrections
 



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