European credit spreads continued a tightening trend on Monday in thin volume in a holiday-shortened week. By 1543 GMT, the investment-grade Markit iTraxx Europe index was at 182 basis points, according to data from Markit, 7 basis points tighter versus late on Friday. The Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 1040 basis points, 23.25 basis points tighter.