CDS spreads tighten on US banks

Five-year senior credit default swap (CDS) spreads referencing Bank of America moved in from 203.4 basis points at yesterday's New York close to 196.9bp at 5:45pm BST today, according to data from credit information specialist CMA Datavision. Spreads referencing Citi tightened to 401.3bp from 414.3bp.

Sentiment also improved towards other major US firms today with spreads on Goldman Sachs trading tighter at 179.3bp from 183.2bp, while CDSs on Morgan Stanley moved in to 274bp from 278.7bp.

In the U

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