Portugal bucks downward CDS trend
Debt protection costs continued to decline across most of Europe, but Ireland and Portugal are moving in the opposite direction
The downward trend on eurozone credit default swap (CDS) spreads moved into its third week today, as risk perceptions across the region declined. Portugal was the only major exception to this trend, with five-year CDS spreads on Portuguese senior debt widening from 435 basis points at close of play on Friday to 449bp by 1.00 pm today, according to financial information provider Markit. Ireland also experienced a slight rise, from 605bp to 606bp in the same period. These moves came as Luxembourg
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