Euro credit default swaps fall ahead of Fed rate decision

On September 17, euro credit default swaps fell ahead of the widely expected first rate cut by the Federal Reserve on Wednesday. Richard Flax, chief investment officer of Moneyfarm, said in a report: "Market sentiment has clearly improved due to the high expectations of the Fed's rate cut." S&P Global Market Intelligence data showed that the iTraxx Europe Crossover index, which tracks euro high-yield credit default swaps, fell 5 basis points to 285 basis points, and the iTraxx Europe Main index, which tracks euro investment-grade CDS, fell 1 basis point to 53 basis points. (Jinshi)