CDSs on European financials tighten after G-20

While a global economic stimulus package of $1.1 trillion stole the headlines, G-20 leaders also committed to a global regulatory framework, which would incorporate "regulated banks, shadow banks and private pools of capital". Among other issues, governments also looked to address pro-cyclicality, the securitisation of bad assets, remuneration practice, offshore tax havens and the alignment of global accounting standards.

The cost of credit protection on UK banks decreased this morning following

To continue reading...