CDSs on eurozone sovereigns widen

The cost of credit protection on eurozone sovereigns widened in European trading this morning, while in the US, spreads on Citi ballooned.

Five-year senior credit default swap (CDS) spreads referencing Irish and Greek sovereign debt were at 216bp and 247bp at 12:00pm London time today, out 22.9bp and 15.1bp from 193.1bp and 231.9bp at the close of trading yesterday, according to data from credit information specialist CMA DataVision.

In Ireland, after rumours that the country may seek aid from the International Monetary Fund, spreads of financial firms Bank of Ireland and Irish Life and Permanent widened 35.8bp and 25.9bp

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