Steady morning for bank CDSs
After a significant improvement in market sentiment yesterday, the cost of credit protection remained steady this morning on US financials, while falling on south-east Asian corporates.
In Europe, CDSs on Barclays, which yesterday confirmed it was in talks over the possible sale of its iShares fund management business, tightened to 220.9bp from 228.1bp, while spreads on UBS moved to 320.5bp from 328bp. The
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