New highs for CDS spreads on Ireland and Belgium
The cost of insuring against Irish and Belgian state defaults reaches unprecedented levels
Irish sovereign credit default swap (CDS) spreads continued their push into all-time highs, from 631 basis points at close of trading yesterday to 635bp at 13:00 today, according to data provider Markit.
CDS spreads on Belgium increased from 238bp yesterday to 242.5bp today, also an all-time high for the country.
Elsewhere in the eurozone, CDS spreads widened, except for Greece, which saw a significant easing of risk perception. The cost of insuring against a Portuguese state default rose from
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