European corporate credit default swap spreads tightened on Tuesday, tracking positive stock futures after small gains in Asian and US equities. By 0637 GMT, the investment-grade Markit iTraxx Europe index was at 115 basis points, according to data from Markit. That is 0.25 basis points tighter versus late on Monday, according to data from BGC Partners.
The Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 511.75 basis points, 3.25 basis points tighter.