CDSs on US financials widen
The cost of credit protection on major US banks rose in Asian and European trading today.
Five-year senior credit default swap (CDS) spreads referencing Bank of America moved out from yesterday's close of 154.5 basis points to 162.9bp at 2:50pm BST, according to data provided by credit information specialist CMA Datavision. Spreads on Wells Fargo widened to 124.5bp from 120bp.
CDSs on Goldman Sachs were trading wider at 140.4bp from 135.1bp, while CDSs on Morgan Stanley widened to 239bp from 236.7bp. Spreads on Citi moved out to 344.9 bp from 340.7bp.
In Europe, the cost of credit
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