Sovereign CDS spreads widen in eurozone
Volatility returns to CDS spreads across the eurozone in early morning trading
The cost of insuring eurozone sovereign debt rose in early morning trading on Friday, in a sign that volatility has not been vanquished from the market. This comes despite the joint European Union-International Monetary Fund emergency loan package announced earlier this week and fiscal tightening from Spain and Portugal.
Data provided by CMA DataVision shows that at 10:00 BST today, the cost of five-year credit default swap (CDS) protection on Spanish sovereign debt stood at 173.1 basis points
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