Credit-Default Swaps Rise for Record Stretch With Russia Risks

Credit investors are rushing to protect their portfolios at an extent not seen in years as Russia’s invasion of Ukraine adds to surging inflation risks.

The cost to insure investment-grade debt in Asia is set to widen for a ninth week, a record stretch. Credit-default swap prices rose another one to two basis points Friday after Ukraine saidRussia attacked a nuclear power plant. Asian junk dollar bonds were poised to hit a record low after the news.

Gauges in North Americaand Europe have also seen unprecedented weeks of widening, based on data going back to 2005, as ...