According to BlockBeats, on September 17, euro credit default swaps fell ahead of the market's widely expected first interest rate cut by the Federal Reserve on Wednesday.

Richard Flax, chief investment officer at Moneyfarm, said market sentiment had clearly improved due to high expectations of a rate cut by the Federal Reserve.

The iTraxx Europe Crossover index, which tracks euro high-yield credit default swaps, fell 5 basis points to 285 basis points, while the iTraxx Europe Main index, which tracks euro investment-grade CDS, fell 1 basis point to 53 basis points, according to S&P Global Market Intelligence data.