Euro Suffers as Portugal Economic Health is Endangered

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