Euro credit-default swap costs eased after Micron Technology (MU.O) posted
strong results, boosting risk appetite, while soft US economic data and comments
from Fed officials trimmed odds of another rate hike next month. iTraxx Europe
Crossover, the euro high-yield CDS gauge, fell 5bps to 296bps, though S&P Global
Market Intelligence shows it remains near Tuesday’s nearly six-month high of
301bps. IG analysts said “strong earnings and AI enthusiasm” have outweighed
market concerns about high borrowing costs.
