Indexes of European credit default swaps dropped to levels not seen since Bear Stearns was taken over nearly two years ago. "Trading levels highlight the extent to which credit as an asset class continues to see inflows," said Arran Rowsell of Credit Suisse. The declines indicate a strengthening of credit markets. "There has been a big appetite to own credit through the year, and generally investors are more comfortable with corporate-risk exposure," said Francesco Garzarelli of Goldman Sachs.
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