Brazil leads booming sovereign CDS trade

Brazil - World Cup 1970

Protection on government debt has dominated global credit default swap (CDS) markets over the past nine months, the Depository Trust and Clearing Corporation (DDTC) has revealed.  The New York-based trade repository yesterday released previously undisclosed data from its Trade Information Warehouse (TIW) detailing single-name CDS trades conducted between June 20, 2009 and March 19.The data release follows a request from the International Swaps and Derivatives Association Credit Steering