CDS spreads widen on European and US banks
The cost of credit protection on European and US financials rose in trading today.
Five-year senior credit default swaps (CDSs) referencing Royal Bank of Scotland widened to 174 basis points at 2:25pm BST today from 170.2bp at close of trading in New York yesterday, according to credit information specialist CMA Datavision. Spreads on Barclays moved out to 144.4bp from 141.3bp.
CDSs on HSBC widened to 80.1bp from 77.7bp and spreads on BNP Paribas moved to 77.7bp from 74.9bp. CDSs on Société Générale were trading wider at 107.1bp from 104.5bp.
In the US, CDSs referencing Goldman
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