French bank CDSs tighten
The cost of protection on French banks fell in early trading today after the government said it would lend €10.5 billion to six of the country's biggest financial institutions.
Market sentiment improved across European today: the cost of protection on Barclays dropped to 99bp from 103.5bp. Lloyds TSB - still in talks to acquire HBOS – saw its CDS spreads move in to 74.1bp from 80bp and CDSs on
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