Financial CDSs pull back from yesterday's high

Credit default swaps (CDSs) on major European financials dropped back today after reaching near-record highs yesterday, according to market information provider Markit.

The Markit iTraxx senior financials index for Europe, composed of CDSs on 25 major banks and insurers, fell to 200 basis points by 13:00 today, from its close of 210bp yesterday - the highest it has reached since its all-time high of 212.37bp on March 9, 2009. The recent spike came alongside the release on January 6 of a European

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