CDS spreads widen on financials

Market sentiment towards financials has deteriorated over the past week, with the cost of credit protection rising on US and European banks.

Five-year senior credit default swaps (CDSs) referencing Goldman Sachs moved out to 144 basis points at 3.30pm BST on September 4 from 130.86bp at New York close on Friday August 28, according to data from credit information specialist CMA Datavision.

CDSs widened on JP Morgan to 72.56bp from 65.58bp; CDSs on Bank of America moved to 165.67 from 160.06bp, w

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