Posts Tagged ‘5 year Credit Default Swaps’
[Chart] 5 year Credit Default Swaps drop sharply amid Greece rescue plans
The cost of insuring Greek, Portuguese and Spanish government debt against default fell further on Tuesday after rising in earlier activity, according to data provider Markit. The spread on Greek credit default swaps narrowed by 37 basis points from Monday’s close to 590 basis points. That means the cost of insuring $10 million of Greek debt against default fell by $37,000 a year to $540,000. The Portuguese CDS spread narrowed 8 basis points to 267, while the Spanish CDS spread narrowed 4 basis points to 163. The Irish spread narrowed to 180 from 184.
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Tags: 5 year Credit Default Swaps, greece | Posted under Charts & Strategies | No Comments