After the Middle East ceasefire agreement was extended, the euro credit default swap rate fell.

After the extension of the ceasefire agreement between the US and Iran on Tuesday, the credit default swap costs in the eurozone have decreased as market optimism increases. Patrick Munnelly of Tickmill Group stated in a report that investors expect "the ongoing cooling of tensions may ease pressure on energy prices and reduce short-term drag on global growth enthusiasm." Data from S&P Global Market Intelligence shows that the euro high-yield credit default swap iTraxx Europe Crossover index has decreased by 2 basis points to 283 basis points.