With falling oil prices, the cost of default protection for Euro-denominated credit bonds declines

```htmlGolden Ten Data reported on July 9 that as oil prices declined and risk appetite improved, the cost of credit default protection on euro-denominated bonds decreased. After US President Trump announced that the Iran ceasefire agreement had ended, oil prices surged on Wednesday. Ricardo Evangelista from ActivTrades stated in a report that, given the uncertainty surrounding the US-Iran conflict, traders may remain cautious. Data from S&P Global Market Intelligence shows that the iTraxx Europe Crossover index, which tracks euro high-yield credit default swaps, dropped by 5 basis points to 246 basis points.```