CDSs widen on Australia and tighten on financials

Five-year senior credit default swap (CDS) spreads referencing Australian sovereign debt were at 124.1bp at 12:00pm London time today, out 17.6bp from 106.5bp at the close of trading yesterday, according to data from credit information specialist CMA DataVision.

Australian financials also suffered today as CDSs on National Australia Bank and Australia and New Zealand Banking Group widened to 148.1bp and 144.5bp from 129.8bp and 127bp.

The cost of credit protection on the Commonwealth Bank of Austr

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