European credit spreads tighten
May 23, 2009
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European credit spreads tightened on Friday, as equity markets stabilised, but trading was thin with no major news ahead of a holiday in the United States and UK on Monday.
By 1342 GMT, the investment-grade Markit iTraxx Europe index was at 124.75 basis points, according to data from Markit, 2.25 basis points tighter versus late on Thursday.
The Markit iTraxx Crossover index, made up of 45 mostly "junk"-rated credits, was at 752.75 basis points, 12.25 basis points tighter.
Copyright Reuters, 2009
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