Swedish banks' CDS spreads widen

A recent failed auction of Latvian government debt securities has sparked fear Latvia might devalue its currency, making it harder for local market participants to pay back loans made by Swedish banks.

Five-year senior credit default swap (CDS) spreads referencing Swedbank moved out from 192.7 basis points at New York close yesterday to 289.4bp at 12.35pm BST today, according to data provided by credit information specialist CMA Datavision. Spreads on Skandinaviska Enskilda Bank widened to 193

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