LONDON, March 10 (Reuters) - The cost of insuring
exposure to European junk bonds rose by the most in three months
on Friday, S&P Global Market Intelligence data showed, as
risk-averse investors dumped bank stocks ahead of U.S. February
non-farm payroll data.
The spread on the iTraxx European Crossover index, which
measures the cost of insuring exposure to a basket of
sub-investment-grade European companies, surged 20 basis points
(bps) from Thursday's close to 417 bps. This was its
largest one-day increase since a 36-bp blowout on Dec 16.
Meanwhile, the iTraxx European Main index rose four bps from
Thursday's close to 80 bps, the data showed.
(Reporting by Chiara Elisei; Editing by Amanda Cooper)
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