The banking and financial services sectors dominated trading volumes of credit default swaps (CDS) in the US over November, according to New York-based interdealer broker GFI.The most actively traded were US government-sponsored entity Fannie Mae and banks Merrill Lynch and Morgan Stanley, said GFI. Morgan Stanley appeared for the second month running.
The telecoms industry remained the dominant CDS sector in the European region, led by German, Italian, Spanish and British firms. Turkey, Russia, Ukraine and Argentina were among the top of the list for the sovereign sector, according to GFI.
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