CDS spreads narrow on Australian banks

Alastair Marsh
05 Jun 2009

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Five-year senior credit default swaps (CDS) referencing Commonwealth Bank of Australia tightened to 70 basis points at 12:50pm BST today from 76.36bp at close of trading in New York yesterday, according to information from credit information specialist CMA Datavision.

Spreads on National Australia bank moved in 7.54bp to 70bp, while CDSs on Australia and New Zealand Banking Group also moved in to 70bp from 76.55bp.

CDSs on most major European and US banks remained relatively unchanged from

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