CDSs tighten on US financials
The cost of credit protection on US banks fell in Asian and European trading today.
Five-year senior credit default swap (CDS) spreads referencing Citi moved in from yesterday's close of 351.1 basis points to 343.8bp at 3:20pm BST today, according to data provided by credit information specialist CMA Datavision.
Spreads on JP Morgan tightened to 96.9bp from 98.4bp, while CDSs on Goldman Sachs were trading tighter at 133.6bp from 136.6bp.
CDSs on Anglo Irish Bank moved out to 522.8bp from 508bp. Today the bank posted a pre-tax loss of €4.1 billion for the six-month period to March
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