Debt insurance costs for junk-rated European debt slips after ECB step

LONDON (Reuters) - The cost of insuring exposure to a basket of sub-investment grade European companies fell to near one-week lows on Thursday after the European Central Bank said it would buy some junk bonds as part of its stimulus programme. The ECB said on Wednesday it would let banks post collateral that was downgraded to junk during the coronavirus outbreak to prevent a credit squeeze in the euro zone.The Markit iTraxx Europe crossover CDS index dropped to 478 bps from Wednesday's close of..