Greek CDS spreads close to all-time high

Downgrade of Greece's credit rating widens spreads, while rest of eurozone remains steady

Greek credit default swap (CDS) spreads finished yesterday's trading at 1,104 basis points, 6bp lower than the all-time high reached on January 10, according to financial information provider Markit, as Moody's downgrade of the sovereign at the start of the week further increased risk perceptions. Greek spreads then fell to 1,027bp by 4.00pm UK time today, although the wide intraday variation that has dominated the Greek CDS market for a number of months makes this an unreliable indicator for