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European credit spreads were little changed to modestly wider on Wednesday after data showed that the US service sector, representing about 80 percent of economic activity, contracted by more than expected in October.
By 1630 GMT, the Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 723 basis points, according to data from Markit, 8 basis points wider versus late on Tuesday. The investment-grade Markit iTraxx Europe index was little changed at 131 basis points.

Copyright Reuters, 2008

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