Corporate Bond Risk Rises After Bear Stearns Rating Outlook Cut by S&P

(Bloomberg) -- The risk of owning corporate bonds
rose in the U.S. and Europe, after Bear Stearns Cos., the
manager of two hedge funds that collapsed last month, had its
debt-rating outlook cut to negative by Standard & Poor's.

Contracts on $10 million of debt in the CDX North America
Investment-Grade Index of 125 companies rose $6,000 to $80,000,
according to JPMorgan Chase & Co. In London, the iTraxx
Crossover Series 7 Index of 50 European companies increased
10,000 euros to 405,000 euros, JPMorgan prices show. It traded
as low as 387,000 euros.


Read more at Bloomberg Bonds News