Australian corporate bond risk rose the most in more than six weeks as French Socialist Francois Hollande was elected President and Greek voters flocked to anti- bailout parties, stoking concern austerity efforts in Europe may be derailed.
The Markit iTraxx Australia index surged 7 basis points to 165 basis points as of 8:32 a.m. in Sydney, according to Deutsche Bank AG.
That’s set for the biggest daily increase since March 22 and the highest close since Jan. 18, according to data provider CMA.
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