Euro Credit Default Protection Costs Steady Ahead of U.S. Jobs Data
Dow Jones
Aug 07
0918 GMT - The cost of insuring euro denominated credit against default remains steady ahead of U.S. jobs data due at 1230 GMT. The data will give an indication of the health of the labor market and potentially signal the possibility of the U.S. Federal Reserve increasing rates in the coming months. A stronger-than-expected reading could increase the chances of a Fed rate rise in September, while a weaker-than-forecast reading could reduce this possibility. The iTraxx Europe Crossover index of euro high-yield credit default swaps is unchanged at 250bps, S&P Global Market Intelligence data show.
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