European bank CDSs rise

Five year credit default swaps (CDSs) on Barclays widened to 106.9 basis points at 1030 BST this morning from 101bp at the close of trading yesterday. Lloyds TSB - still in talks to acquire HBOS – saw its CDS spreads move out to 78.3bp from 74.5bp and CDSs on Royal Bank of Scotland rose to 104.3bp from 98.7bp, according to credit information specialist CMA DataVision.

CDSs referencing HBOS widened to 103bp from 98.8bp and the cost of protection on HSBC increased from 60bp to 63bp.

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