Europe Debt Risk Falls to Lowest Since 2008 as QE Unveiled
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A gauge of corporate credit risk fell to the lowest in seven years after the European Central Bank said it will buy 60 billion euros ($69 billion) of assets a month as part of a quantitative-easing program.
The Markit iTraxx Europe Index of credit-default swaps on investment-grade companies fell as much as 2.2 basis points to 54 basis points. The Markit iTraxx Crossover Index of contracts on high-yield companies dropped as much as 11.5 basis points to 302.5 basis points, the lowest in more than three months.