Mixed morning in CDS market

Five-year senior credit default swap (CDS) spreads referencing Providence-based commercial finance company Textron Financial moved out 92bp from close of trading yesterday to 945.8bp at 13:45pm London time today, according to data from credit information specialist CMA Datavision.

In Europe, CDSs on personal financial services provider Irish Life & Permanent tightened to 292.5bp from 310bp, while spreads on German automaker Volkswagen widened to 234.2bp from 206.4bp.

Elsewhere, the cost of credit

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