A gauge of corporate credit risk in the U.S. rose as investors weighed jobs and growth data before the Federal Reserve's statement on the outlook for stimulus.
The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark that investors use to hedge against losses or to speculate on creditworthiness, increased 0.5 basis point to a mid-price of 76.1 basis points at 1:09 p.m. in New York, according to prices compiled by Bloomberg.
Signs the world's largest economy is recovering may lead the Fed to begin curtailing $85 billion in monthly asset purchases, which have bolstered credit markets. U.S. companies boosted jobs in July by the most this year, and the economy grew more than economists projected in the second quarter.
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