Countrywide Home Loans dominates December US CDS trading
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In Europe, the telecoms sector saw the most active CDS trading for yet another month, led by Telecom Italia, Telefonica and Deutsche Telecom. The food retail and wholesale sector joined the most active category, with Danone the most traded contract. The banking sector remained in the most active category, while Marks & Spencer rounded out the most active single names.
Similar to the US, the banking and financial services sectors dominated again in Asia, led by Bank TuranAlem, JSC Kazkommertsbank, Orix Corp and Bank of Tokyo-Mitsubishi UFJ. Turkey, Russia and Brazil were the three most active sovereigns for the month, according to GFI.