Institution: Amid concerns related to AI, the cost of protecting against Euro credit defaults has slightly increased.

With concerns about the valuation of technology stocks reducing preferences for risk assets, the cost of default insurance for euro-denominated credit bonds has risen. Ipek Ozkardeskaya of Credit Suisse Bank stated in a report that investors are worried about the high valuation of technology companies, with some companies lacking a clear path to profitability. The market is awaiting the performance of US tech company Micron Technology, which is expected to be released after the close of the US stock market on Wednesday. This performance may provide clues on whether investments related to AI are worthwhile. S&P Global Market Intelligence data shows that the iTraxx Europe Crossover index for euro high-yield credit default swaps rose 1 basis point to 249 basis points.