Stress test results boost CDSs on financials

Five-year senior credit default swap (CDS) spreads referencing Bank of America (BoA) - which according to the stress tests requires an additional $33.9 billion of capital - tightened from 208.2 basis points at Thursday's close to 180.7bp as of 14:00pm BST on Friday, according to data provided by credit information specialist CMA Datavision. Spreads on BoA reached a high of 400.7bp on March 3.

Citi - which will require a further $5.5 billion in capital - saw its CDSs narrow to 344.1bp from 394.3bp

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