CDS spreads tighten on US financials

Five-year senior credit default swap (CDS) spreads referencing Morgan Stanley were trading tighter at 343.4 basis points at 4:00pm BST today from 363.1bp at close of trading yesterday, according to data from credit information specialist CMA Datavision. Spreads on Goldman Sachs moved in to 253.1bp from 263.9bp.

Other US financials also fared well, with spreads on Merrill Lynch tighter by 42.5bp at 473.9bp, while CDSs on Bank of America tightened to 321.9bp from 346.7bp.

In Ireland, following the

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