The cost of insuring euro credit against default using credit default swaps rises as appetite for risk declines following Nvidia’s earnings. The company’s earnings were stronger-than-expected but gross margin fell slightly. “The negative market reaction to Nvidia’s results suggests investors are now focusing on the minutiae rather than the big picture,” AJ Bell’s Dan Coatsworth says in a note. The iTraxx Europe Crossover index which tracks euro junk bond credit default swaps rises 4 basis points to 308bps, S&P Global Market Intelligence data show. The iTraxx Europe Main index which tracks euro investment-grade CDS climbs 1bp to 58bps.