CDS spreads down on European and US financials

In the UK, spreads of five-year senior credit default swaps (CDS) referencing Lloyds TSB tightened today to 93.3 basis points at 10:30am GMT from 95bp at close yesterday, and the cost of credit protection on RBS fell to 123.4bp from a close of 127bp, according to credit information specialist CMA Datavision.

CDSs referencing Barclays and HSBC also narrowed to 146.3bp from 147bp and to 94.4bp from 96.8bp. Spreads on HBOS remained unchanged from the close yesterday at 114.3bp.

Meanwhile, CDSs on UK

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