On September 17, euro credit default swaps declined ahead of widespread market expectations that the Federal Reserve would cut interest rates for the first time on Wednesday. “Market sentiment has clearly improved on the back of high expectations for a Fed rate cut,” said Richard Flax, chief investment officer at Moneyfarm, in a report. Data from S&P Global Market Intelligence showed that the iTraxxEuropeCrossover index, which tracks euro high-yield credit default swaps, fell 5 basis points to 285 basis points, while the iTraxxEuropeMain index, which tracks euro investment-grade CDS, fell 1 basis point to 53 basis points. (JinShi)