European corporate credit default swap spreads edged tighter Wednesday, underpinned by growing hopes the US Federal Reserve will embark on more quantitative easing measures. By 0645 GMT, the investment-grade Markit iTraxx Europe index was at 100.5 basis points, according to data from BGC Partners. That is 0.75 basis points tighter versus late on Tuesday.
The Markit iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at 461 basis points, 4 basis points tighter.