CDS spreads fall for eurozone sovereigns

Michael Watt
12 Jan 2011

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The cost of default insurance on eurozone sovereigns continued to fall today, with the decline most notable among the peripheral nations. According to financial information provider Markit, the spread on a five-year credit default swap (CDS) for Portuguese government debt tightened from 540 basis points at close of play yesterday to 525bp by 13:00 today.

This fall came as Portugal successfully issued almost €1.25 billion of debt at auction. However, a report recently released by analysts at

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