CDSs on financials continue to tighten

Five-year senior credit default swap (CDS) spreads referencing Royal Bank of Scotland fell from yesterday's close of 192.6 basis points to 187.6bp as of 16:25 GMT, according to data from credit information specialist CMA Datavision. Spreads on Barclays moved in from 192.7bp to 190bp, while CDS on Lloyds tightened from 183.2bp to 179.6bp. HSBC was the only UK bank to witness a slight widening in its spreads, from 139.4bp to 139.8bp.

French banking giant BNP Paribas saw its CDS move in from 100.7bp

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