Eurozone CDS spreads decline in early 2011

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Risk perceptions on eurozone sovereigns have eased since the turn of the year, but Middle East volatility continues

Credit default swap (CDS) spreads in many peripheral and core eurozone states experienced a slight rise today, but fears of a sovereign default in the region appear to have faded in the early part of 2011.

According to data from financial information provider Markit, the cost of CDS protection on Portuguese debt fell from 500 basis points on January 1 to 424bp by the close yesterda

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