Financial services keep first spot in US and Asia CDS market

Financial services once again proved to be the busiest sectors of the credit default swap market in June in both the US and Asia, according to a report from US interdealer broker GFI.

In the US, trading in the financial services sector was led by SLM Corp, Countrywide Home Loans and GMAC. In second spot came auto manufacturers, while Bear Stearns helped push the banking sector into third spot.

In Asia, financial services dominated for the 14th consecutive month, while the banking sector, led by JSC Kazkommertsbank, rose to second on the list. Trading companies and distributors rounded out the most active sectors.

In Europe, telecoms dominated for the ninth month in a row, led

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