CDS spreads widen on Australian and Indian banks
The cost of credit protection rose on Australian and Indian banks in European trading today, while remaining steady on financials from the US and Europe.
Five-year senior credit default swaps (CDSs) referencing Australia and New Zealand Banking Group moved out to 109.47 basis points at 2.25pm BST today from 97.09bp at Monday's New York close, according to credit information specialist CMA Datavision. Spreads on National Australia Bank widened 12bp to 109.49bp.
In India, CDSs widened 21.2bp on Mumbai-based Bank of India to 170.78bp, while CDSs on Export-Import Bank of India, also based in Mumbai, moved out by 19.94bp to 167.5bp.
Elsewhere, CDSs on
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