Insurer CDS spreads tighten on Tarp promise

Five-year senior credit default swap (CDS) spreads referencing Hartford Financial Services moved in from 682.1 basis points at yesterday's New York close to 520bp at 3:00pm BST, according to data from credit information specialist CMA Datavision. Spreads referencing Lincoln National Corporation tightened to 580.8bp from 746.8bp.

The cost of credit protection on Prudential Financial dropped to 529.2bp from 667.2bp, while spreads on MetLife were trading at 485.9bp from 605.8bp.

In the financial sect

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