CDS spreads widen on UK

Five-year senior credit default swap (CDS) spreads referencing the UK moved out from 72.5 basis points at yesterday's New York close to 79.94bp at 3:00pm BST today (according to data from credit information specialist CMA Datavision) after credit rating agency Standard & Poor's revised its outlook to negative from stable, citing a growing government debt burden.

CDS spreads also widened 8.05bp on Spanish sovereign debt to 82.77bp, while spreads on Portugal moved out 6.88bp to 62.61bp.

In the finan

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