CDS spreads widen on US and European financials
The cost of credit protection on US and European financials rose in early trading today.
Five-year senior credit default swaps (CDSs) referencing Deutsche Bank widened to 104.3 basis points at 2:55pm BST today from 99.7bp at close of trading in New York on Friday, according to credit information specialist CMA Datavision. Spreads on BNP Paribas moved out to 74bp from 69.1bp.
CDSs on Lloyds Banking Group widened to 167.5bp from 162.2bp. In the US, spreads on Citi moved out to 378.6bp from 368.4bp, while CDSs on Bank of America were trading at 184.4bp from 176.6bp.
Elsewhere, CDSs on
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