European CDS widen

European corporate credit default swap spreads widened on Thursday, tracking stocks lower, after US Federal Reserve chairman Ben Bernanke inflamed growing fears about the pace of the US economic recovery. By 0634 GMT, the investment-grade Markit iTraxx Europe index was at 115.5 basis points, according to data from Markit. That is 0.25 basis points wider versus late on Wednesday, according to data from BGC Partners.
The Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 524.25 basis points, 2.25 basis points wider.