Sovereign CDS spreads continue to fall after volatile week

Tightening of peripheral CDS continues for third day after Trichet announcement

market volatility

Debt protection costs across Europe's peripheral countries fell for the third consecutive day today, according to data from financial information provider Markit.

Sovereign credit default swap (CDS) spreads for the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) nations reached a high-water mark for the week on Tuesday November 30, before bond market concerns were dampened by an announcement on the same day by European Central Bank (ECB) president Jean-Claude Trichet, which

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