In the sovereign markets, the cost of credit protection on a number of Asian countries declined. CDS spreads referencing Vietnam moved in 31.8bp to 469bp, Thailand saw i
European banks were among the biggest percentage winners. Santander saw its credit default swap (CDS) spreads tighten to 92.9 basis points at 10:00am London time, a change of 9.1bp from the close of trading on Friday. The cost of protection on Fortis fell to 71.5bp from 77.5bp, while spreads on Dresdner moved to 80.7bp from 85bp.