CDS spreads unstable on eurozone banks

Five-year senior credit default swap (CDS) spreads referencing HSBC - which is reportedly considering spinning off or selling its troubled US consumer finance business, HSBC Finance - tightened to 104.8 basis points at 9:30am London time from 106.8bp at the close of trading on Friday, according to credit information specialist CMA DataVision.

RBS, which will cut around 3,000 jobs in its investment banking division in the coming weeks, saw its CDS spreads tighten slightly to 129.7bp from 130.3bp.

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