CDS markets fear European sovereign debt crisis


The continuing budget crises in several eurozone countries, led by Greece, are being reflected in spiking credit default swap (CDS) prices on the countries' sovereign debt – and on the debt of their major banks. Even some domestically focused corporates are being caught out.

A general strike in Greece began today, and with the prospect of a bailout for the deficit-laden country still uncertain, the market's perception of the risk of default was still high at close of trading yesterday. Five-year

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