Financial CDS spreads steady
Market sentiment towards financials has steadied in the past week as the flow of positive second-quarter results from major financials in Europe and the US continued.
Spreads on Goldman Sachs tightened from 110bp to 94.8bp, while CDSs were trading tighter on Morgan Stanley at 136.3bp from 156.1bp. CDSs on JP Morgan narrowed from 69.5bp to 60.3bp and CDSs on Barclays Bank
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