Eurozone peripheral CDSs keep tightening

Credit default swaps (CDSs) on Portugal have dropped 20 basis points from close yesterday to 439bp at 1pm today, continuing their steady fall from a peak of 540bp on January 11, according to data from market information specialist Markit.

CDS spreads on Spain have declined from 326bp at close of trading on January 12 - the day before the government's successful five-year bond auction - to 268bp as of 1pm today.

Risk perceptions of other eurozone sovereigns improved further today. The cost of ins