Sovereign CDS spreads widen in eurozone

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The cost of insuring eurozone sovereign debt rose in early morning trading on Friday, in a sign that volatility has not been vanquished from the market. This comes despite the joint European Union-International Monetary Fund emergency loan package announced earlier this week and fiscal tightening from Spain and Portugal.

Data provided by CMA DataVision shows that at 10:00 BST today, the cost of five-year credit default swap (CDS) protection on Spanish sovereign debt stood at 173.1 basis points,

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