CDS spreads widen on financials
The cost of credit protection rose on US and European financials this morning.
CDSs on Morgan Stanley also widened to 366.1bp from 359.1bp, while spreads on JP Morgan moved out to 169.3bp from 161.3bp.
In Europe, the cost of credit protection on Credit Suisse rose to 200bp from 190bp, and also rose on UniCredit
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