Sovereign CDSs at record levels
The cost of credit protection on the sovereign debt of Spain, Portugal and Ireland reached all-time highs in intraday trading this morning.
CDSs on Portugal moved out to 147.9bp from 134bp, while the cost of credit protection on Ireland jumped to 281bp from 275bp, according to credit information specialist CMA Datavision.
CDSs on US sovereign debt, which closed at
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