CDS spreads on Japanese financials stabilise after earthquake

Risk perceptions start to steady on banks and insurance companies as Japan counts economic cost of natural disaster

After experiencing a huge spike in credit default swap (CDS) spreads in the aftermath of the Japanese earthquake on March 11, risk perceptions on the nation's financial institutions appears to be stabilising. On March 11, spreads on Sumitomo Mitsui Bank sat at 78 basis points, according to information from financial data provider Markit. Since the quake, spreads on the company have rocketed to 116bp, before climbing down by 4.00pm GMT today to 110bp. Spreads on Tokio Marine and Nichido Fire

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