Eurozone sovereign CDS spreads widen amid continuing contagion fears
Widening continues on eurozone CDS spreads as Australian banks feel the pinch from the Greek debt crisis
The cost of insuring eurozone sovereign debt rose in early morning trading on Monday May 17, despite falling substantially over the course of last week.
Data provided by CMA DataVision shows that at 10:00 BST today the cost of five-year credit default swap (CDS) protection on Greek sovereign debt stood at 634 basis points, up from 609.6bp on its May 14 close. CDS spreads also widened to 189.6bp from 179.8bp for Spanish sovereign debt, and to 263.6bp from 248.6bp for Portuguese sovereign debt
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