European and US CDS spreads widen

Five-year senior credit default swap (CDS) spreads referencing HBOS widened to 122.1 basis points at 9:30am London time, up from 120.3bp at the close of trading yesterday, according to credit information specialist CMA DataVision. The UK bank is still set to be taken over by Lloyds TSB, despite the attempts of two former bank chiefs to be appointed heads of the firm and veto the deal. Lloyds TSB saw its spreads broaden to 78.1bp from 77.5bp.

CDSs on HSBC expanded to 106.5bp from 105bp, despite

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