Debt investors are loading up on insurance against corporate bond defaults as concerns mount about the health of the US economy and the European consumer.
The cost of protecting a basket of North American high-grade credits against default surged on Friday by the most since October. Trading volumes on that credit default swap index, the CDX.NA.IG, reached the highest daily level in about five months on Friday, according to data compiled by Bloomberg. The European equivalent this week had its busiest day since French President Emmanuel Macron in June called a surprise election.
Credit derivatives are often the first ...
