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Banks Eye Expanding Muni CDS Market
Banks are looking to expand the municipal credit default swap market over rising concern that state and local governments could default, reports Financial Times.
Banks are looking to expand the municipal credit default swap market over rising concern that state and local governments could default. Despite political pressure to slow the growth of the muni CDS market, CDS indices linked to public-sector borrowers has risen 13% to USD4.4 billion since the beginning of the year.