European corporate CDS open a bit wider, with uncertainty on various fronts weighing on the market amid a light schedule for data releases. The iTraxx Europe index is just marginally wider at 137bps, and the Crossover index is just a couple of points wider at 562bps. Euro-zone trade data are due for release at 1000 GMT. In the US, official negotiations on the "fiscal cliff" will kick off later in the day.
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