European CDS Widen To New Records

Credit default swaps spreads on Greek, Portuguese and Irish sovereign debt widened by 21 basis points, 7 bps and 11 bps, respectively, to new records, reports Bloomberg.

Credit default swaps spreads on Greek, Portuguese and Irish sovereign debt widened by 21 basis points, 7 bps and 11 bps, respectively, to new records. The moves helped widen the Markit iTraxx SovX Western European Index of swaps by 1 bp to 201 bps, its highest level since January.

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