Quiet morning trading on the CDS market after dramatic moves


The cost of insuring eurozone sovereign debt has tightened marginally in early morning trading as markets calmed following volatility at the start of the week.

Data provided by CMA Datavision shows the cost of five-year credit default swap (CDS) protection on Greek sovereign debt fell to 679.9 basis points at 10:45 BST, from yesterday's close of 688.8bp. This is significantly down on early morning trading on May 25, where it stood at 745.7bp.

CDS spreads on sovereign debt across Portugal, Spain,