Analyst: Euro credit default swap costs remain high.

In the midst of ongoing uncertainty over the Middle East conflict, the cost of Euro credit default protection remains at relatively high levels. Despite President Donald Trump outlining a plan led by the United States to help stranded commercial ships navigate through the Strait of Hormuz, oil prices continue to rise. Analysts at UBS Global Wealth Management stated in a report, "With no significant progress in resolving the US-Iran conflict, oil price volatility and economic uncertainty are expected to remain high." Data from S&P Global Market Intelligence shows that the iTraxx Europe Crossover Euro high yield credit default swap index is stable at 284 basis points. The iTraxx Europe Main Euro investment grade credit default swap index remains unchanged at 57 basis points.