Investor sentiment towards local rivals Landesbanki and Kaupthing was slightly more favourable. Landesbanki, which was today taken over by the Icelandic Financial Supervisory Authority, saw its CDS spreads tighten to 2661.6bp yesterday from 2828.5bp on Friday. The cost of protection on Kaupthing dropped to 3023.6bp from 4151bp. However, the three Icelandic banks remain the riskiest in Europe.
Market confidence declined across the US and Europe yesterday. The Credit Derivatives Research Count