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Aeron News => Forex Market: News/ Trend/ Technical Analysis => Topic started by: Hemant on April 10, 2011, 05:03:57 pm

Title: Euro Suffers as Portugal Economic Health is Endangered
Post by: Hemant on April 10, 2011, 05:03:57 pm

Euro Suffers as Portugal Economic Health is Endangered

Portugal?s decision to seek a bailout from the European Union triggered a decline in sovereign and corporate credit-default swaps.

Contracts on Portuguese debt fell 19 basis points to 534 as of 9:30 a.m. in London, after reaching a record-high 585 on April 5, according to CMA. The Markit iTraxx Crossover Index of 40 companies with mostly high-yield credit ratings dropped 4 basis points to a three-year low of 356, JPMorgan Chase & Co. prices show.

Source: Euro Suffers as Portugal Economic Health is Endangered (http://www.marketracks.com/forex/euro-suffers-as-portugal-economic-health-is-endangered/forward/354/)