US investment-grade credit risk gauge hits highest since November 2023
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FILE PHOTO: The Empire State Building and Manhattan skyline are pictured from the Summit at One Vanderbilt observatory in Manhattan in New York City, U.S., April 14, 2023. REUTERS/Mike Segar/File Photo
NEW YORK (Reuters) - The Markit CDX North American Investment Grade Index, a basket of credit default swaps that serves as a gauge of credit risk, widened to its highest since November 2023 on Thursday amid market turmoil fueled by U.S. sweeping tariffs.
The index widened to 64.9 basis points, LSEG data showed. It rose to its highest intra-day level since November 2023, as investors hedged bets on a deterioration in credit quality.
(Reporting by Davide Barbuscia)
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