New highs for CDS spreads on Ireland and Belgium

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Irish sovereign credit default swap (CDS) spreads continued their push into all-time highs, from 631 basis points at close of trading yesterday to 635bp at 13:00 today, according to data provider Markit. CDS spreads on Belgium increased from 238bp yesterday to 242.5bp today, also an all-time high for the country. Elsewhere in the eurozone, CDS spreads widened, except for Greece, which saw a significant easing of risk perception. The cost of insuring against a Portuguese state default rose fro