Sovereign CDSs balloon as equity markets crash

Credit default swap (CDS) spreads on Greece and other European countries increased today, reflecting market doubt that the weekend's German-led bailout will save the country – and the eurozone – from financial disaster.

The cost of five-year CDS protection on Greek sovereign debt was at 742 basis points at 4:50pm London time today, out from 646.5bp at close of trading yesterday in New York, according to market information provider CMA DataVision.

There were similar blowouts for other eurozone co

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: