Financial services dominate CDS

Financial services were the busiest sectors of the credit default swap market in May in both the US and Asia, according to a report from US interdealer broker GFI.

In the US, trading in the financial services sector was led by SLM Corp, GMAC and GMAC Residential Capital. In Asia, the sector dominated the CDS market for the thirteenth straight month, and was led by Japanese consumer finance firm Aiful in May.

In second spot in the US came the auto manufacturing sector, led by General Motors. In A

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