Financial CDS spreads stable
Market sentiment towards financials has been steady over the past week, with the cost of credit protection largely unchanged on US and European banks.
The biggest financial movers of the week were UK banks. Five-year senior credit default swaps (CDS) referencing Lloyds TSB moved in from 138.27bp points at New York close on Monday, August 24, to 129.66bp at 12.20pm BST today, according to data from credit information specialist CMA Datavision.
CDSs on Barclays tightened from 88.38bp to 81.25bp, while spreads narrowed to 123.1bp from 133.23bp on Royal Bank of Scotland (RBS). Dutch bank ABN Amro announced a second-quarter loss after tax of €1.76
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